**Result:**
₩100
in 1961 →
₩7,234.06
in 2020

According to the World Bank consumer price index for South Korea, today's prices in 2020 are 7,134.06% higher than average prices since 1961. This means that a won today only buys 1.38% of what it could buy in 1961. The South Korean Won experienced an average inflation rate of 7.53% per year during this period, causing the real value of a won to decrease.

In other words, ₩100 in 1961 is equivalent in purchasing power to about ₩7,234.06 in 2020, a difference of ₩7,134.06 over 59 years. This inflation data is collected by the World Bank and is specific to South Korea.

The 1961 inflation rate was 8.20%. The current year-over-year inflation rate (2019 to 2020) is now 0.38%^{1}.
If this number holds, ₩100 today will be equivalent in buying power to ₩100.38 next year.

⌃

Cumulative price change | 7,134.06% |

Average inflation rate | 7.53% |

Converted amount (₩100 base) | ₩7,234.06 |

Price difference (₩100 base) | ₩7,134.06 |

CPI in 1961 | 1.598 |

CPI in 2020 | 115.600 |

Inflation in 1961 | 8.20% |

Inflation in 2020 | 0.38% |

This chart shows a calculation of buying power equivalence for ₩100 in 1961 (price index tracking began in 1960).

For example, if you started with ₩100, you would need to end with ₩7,234.06 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When ₩100 is equivalent to ₩7,234.06 over time, that means that the "real value" of a single South Korean won decreases over time. In other words, a won will pay for fewer items at the store.

This effect explains how inflation erodes the value of a won over time. By calculating the value in 1961 dollars, the chart below shows how ₩100 is worth less over 59 years.

According to the World Bank, each of these KRW amounts below is equal in terms of what it could buy at the time:

This conversion table shows various other 1961 amounts in today's won, based on the 7,134.06% change in prices:

Initial value | Equivalent value |
---|---|

₩1 won in 1961 | ₩72.34 won today |

₩5 won in 1961 | ₩361.70 won today |

₩10 won in 1961 | ₩723.41 won today |

₩50 won in 1961 | ₩3,617.03 won today |

₩100 won in 1961 | ₩7,234.06 won today |

₩500 won in 1961 | ₩36,170.28 won today |

₩1,000 won in 1961 | ₩72,340.57 won today |

₩5,000 won in 1961 | ₩361,702.85 won today |

₩10,000 won in 1961 | ₩723,405.69 won today |

₩50,000 won in 1961 | ₩3,617,028.46 won today |

₩100,000 won in 1961 | ₩7,234,056.92 won today |

₩500,000 won in 1961 | ₩36,170,284.62 won today |

₩1,000,000 won in 1961 | ₩72,340,569.24 won today |

Our calculations use the following inflation rate formula to calculate the change in value between 1961 and today:

CPI today
CPI in 1961

×

1961 KRW value

=

Today's value

Then plug in historical CPI values. The South Korean CPI was 1.5979910581 in the year 1961 and 115.59958278213516 in 2020:

115.599582782135161.5979910581

×

₩100

=

₩100 in 1961 has the same "purchasing power" or "buying power" as ₩7,234.06 in 2020.

To get the total inflation rate for the 59 years between 1961 and 2020, we use the following formula:

CPI in 2020 - CPI in 1961CPI in 1961

×

100

=

Plugging in the values to this equation, we get:

115.59958278213516 - 1.59799105811.5979910581

×

100

=

Politics and news often influence economic performance. Here's what was happening at the time:

- A dog named Chernushka, frogs, and a guinea pig orbit the Earth in the Soviet flight Sputnik 9.
- Nelson Mandela is acquitted of treason after a four-and-a-half year trial.

You may use the following MLA citation for this page: “South Korea Inflation Calculator: World Bank data, 1961-2020 (KRW).” Official Inflation Data, Alioth Finance, 17 Sep. 2020, https://www.officialdata.org/south-korea/inflation.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

Cumulative price change | 7,134.06% |

Average inflation rate | 7.53% |

Converted amount (₩100 base) | ₩7,234.06 |

Price difference (₩100 base) | ₩7,134.06 |

CPI in 1961 | 1.598 |

CPI in 2020 | 115.600 |

Inflation in 1961 | 8.20% |

Inflation in 2020 | 0.38% |