Result: ₩100 in 2004 → ₩160.02 in 2024
The South Korean Won has lost 38% its value since 2004
Updated: April 10, 2025₩100 in 2004 is equivalent in purchasing power to about ₩160.02 today, an increase of ₩60.02 over 20 years. The won had an average inflation rate of 2.38% per year between 2004 and today, producing a cumulative price increase of 60.02%.
This means that today's prices are 1.60 times as high as average prices since 2004, according to the OECD and the World Bank consumer price index for South Korea. A won today only buys 62.492% of what it could buy back then.
The inflation rate in 2004 was 3.59%. The current inflation rate compared to the end of last year is now 4.21%. If this number holds, ₩100 today will be equivalent in buying power to ₩104.21 next year.
⌃
| Cumulative price change | 60.02% |
| Average inflation rate | 2.38% |
| Converted amount ₩100 base | ₩160.02 |
| Price difference ₩100 base | ₩60.02 |
| CPI in 2004 | 76.342 |
| CPI in 2024 | 122.165 |
| Inflation in 2004 | 3.59% |
| Inflation in 2024 | 4.21% |
| ₩100 in 2004 | ₩160.02 in 2024 |
Buying power of ₩100 in 2004
This chart shows a calculation of buying power equivalence for ₩100 in 2004 (price index tracking began in 1951).
For example, if you started with ₩100, you would need to end with ₩160.02 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When ₩100 is equivalent to ₩160.02 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 2004 dollars, the chart below shows how ₩100 is worth less over 20 years.
According to the OECD and 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 2004 amounts in today's won, based on the 60.02% change in prices:
| Initial value | Equivalent value |
|---|---|
| ₩1 won in 2004 | ₩1.60 won today |
| ₩5 won in 2004 | ₩8.00 won today |
| ₩10 won in 2004 | ₩16.00 won today |
| ₩50 won in 2004 | ₩80.01 won today |
| ₩100 won in 2004 | ₩160.02 won today |
| ₩500 won in 2004 | ₩800.12 won today |
| ₩1,000 won in 2004 | ₩1,600.24 won today |
| ₩5,000 won in 2004 | ₩8,001.20 won today |
| ₩10,000 won in 2004 | ₩16,002.39 won today |
| ₩50,000 won in 2004 | ₩80,011.96 won today |
| ₩100,000 won in 2004 | ₩160,023.92 won today |
| ₩500,000 won in 2004 | ₩800,119.59 won today |
| ₩1,000,000 won in 2004 | ₩1,600,239.18 won today |
How to calculate inflation rate for ₩100 since 2004
Our calculations use the following inflation rate formula to calculate the change in value between 2004 and today:
CPI today CPI in 2004
×
2004 KRW value
=
Today's value
Then plug in historical CPI values. The South Korean CPI was 76.34159 in the year 2004 and 122.16480370129565 in 2024:
122.1648037012956576.34159
×
₩100
=
₩160.02
₩100 in 2004 has the same "purchasing power" or "buying power" as ₩160.02 in 2024.
To get the total inflation rate for the 20 years between 2004 and 2024, we use the following formula:
CPI in 2024 - CPI in 2004CPI in 2004
×
100
=
Cumulative inflation rate (20 years)
Plugging in the values to this equation, we get:
122.16480370129565 - 76.3415976.34159
×
100
=
60%
Data source & citation
You may use the following MLA citation for this page: “Value of 2004 South Korean Won today | South Korea Inflation Calculator.” Official Inflation Data, Alioth Finance, 29 May. 2025, https://www.officialdata.org/south-korea/inflation/2004.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | 60.02% |
| Average inflation rate | 2.38% |
| Converted amount ₩100 base | ₩160.02 |
| Price difference ₩100 base | ₩60.02 |
| CPI in 2004 | 76.342 |
| CPI in 2024 | 122.165 |
| Inflation in 2004 | 3.59% |
| Inflation in 2024 | 4.21% |
| ₩100 in 2004 | ₩160.02 in 2024 |
