**Result:**
₩100
in 1961 →
₩7,284.10
in 2021

₩100 in 1961 is equivalent in purchasing power to about ₩7,284.10 today, an increase of ₩7,184.10 over 60 years. The won had an average inflation rate of 7.41% per year between 1961 and today, producing a cumulative price increase of 7,184.10%.

This means that today's prices are 72.84 times higher than average prices since 1961, according to the World Bank consumer price index for South Korea. A won today only buys 1.37% of what it could buy back then.

The 1961 inflation rate was 8.20%. The current year-over-year inflation rate (2020 to 2021) is now 0.54%^{1}.
If this number holds, ₩100 today will be equivalent in buying power to ₩100.54 next year.

⌃

Cumulative price change | 7,184.10% |

Average inflation rate | 7.41% |

Converted amount (₩100 base) | ₩7,284.10 |

Price difference (₩100 base) | ₩7,184.10 |

CPI in 1961 | 1.598 |

CPI in 2021 | 116.399 |

Inflation in 1961 | 8.20% |

Inflation in 2021 | 0.54% |

₩100 in 1961 | ₩7,284.10 in 2021 |

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 ₩7,284.10 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When ₩100 is equivalent to ₩7,284.10 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 60 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 7,184.10% change in prices:

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

₩1 won in 1961 | ₩72.84 won today |

₩5 won in 1961 | ₩364.21 won today |

₩10 won in 1961 | ₩728.41 won today |

₩50 won in 1961 | ₩3,642.05 won today |

₩100 won in 1961 | ₩7,284.10 won today |

₩500 won in 1961 | ₩36,420.51 won today |

₩1,000 won in 1961 | ₩72,841.03 won today |

₩5,000 won in 1961 | ₩364,205.13 won today |

₩10,000 won in 1961 | ₩728,410.27 won today |

₩50,000 won in 1961 | ₩3,642,051.35 won today |

₩100,000 won in 1961 | ₩7,284,102.70 won today |

₩500,000 won in 1961 | ₩36,420,513.49 won today |

₩1,000,000 won in 1961 | ₩72,841,026.99 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 116.39930979044722 in 2021:

116.399309790447221.5979910581

×

₩100

=

₩100 in 1961 has the same "purchasing power" or "buying power" as ₩7,284.10 in 2021.

To get the total inflation rate for the 60 years between 1961 and 2021, we use the following formula:

CPI in 2021 - CPI in 1961CPI in 1961

×

100

=

Plugging in the values to this equation, we get:

116.39930979044722 - 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, 1961-2021 (KRW).” Official Inflation Data, Alioth Finance, 31 Jul. 2021, 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 | 7,184.10% |

Average inflation rate | 7.41% |

Converted amount (₩100 base) | ₩7,284.10 |

Price difference (₩100 base) | ₩7,184.10 |

CPI in 1961 | 1.598 |

CPI in 2021 | 116.399 |

Inflation in 1961 | 8.20% |

Inflation in 2021 | 0.54% |

₩100 in 1961 | ₩7,284.10 in 2021 |