Result: ₩2,100,000 in 2008 → ₩2,980,346.93 in 2024
Value of ₩2,100,000 from 2008 to 2024
Updated: September 11, 2025₩2,100,000 in 2008 is equivalent in purchasing power to about ₩2,980,346.93 today, an increase of ₩880,346.93 over 16 years. The won had an average inflation rate of 2.21% per year between 2008 and today, producing a cumulative price increase of 41.92%.
This means that today's prices are 1.42 times as high as average prices since 2008, according to the OECD and the World Bank consumer price index for South Korea. A won today only buys 70.462% of what it could buy back then.
The inflation rate in 2008 was 4.67%. The current inflation rate compared to the end of last year is now 4.21%. If this number holds, ₩2,100,000 today will be equivalent in buying power to ₩2,188,506.03 next year.
⌃
| Cumulative price change | 41.92% |
| Average inflation rate | 2.21% |
| Converted amount ₩2,100,000 base | ₩2,980,346.93 |
| Price difference ₩2,100,000 base | ₩880,346.93 |
| CPI in 2008 | 86.079 |
| CPI in 2024 | 122.165 |
| Inflation in 2008 | 4.67% |
| Inflation in 2024 | 4.21% |
| ₩2,100,000 in 2008 | ₩2,980,346.93 in 2024 |
Buying power of ₩2,100,000 in 2008
This chart shows a calculation of buying power equivalence for ₩2,100,000 in 2008 (price index tracking began in 1951).
For example, if you started with ₩2,100,000, you would need to end with ₩2,980,346.93 in order to "adjust" for inflation (sometimes refered to as "beating inflation").
When ₩2,100,000 is equivalent to ₩2,980,346.93 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 2008 dollars, the chart below shows how ₩2,100,000 is worth less over 16 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 2008 amounts in today's won, based on the 41.92% change in prices:
| Initial value | Equivalent value |
|---|---|
| ₩1 won in 2008 | ₩1.42 won today |
| ₩5 won in 2008 | ₩7.10 won today |
| ₩10 won in 2008 | ₩14.19 won today |
| ₩50 won in 2008 | ₩70.96 won today |
| ₩100 won in 2008 | ₩141.92 won today |
| ₩500 won in 2008 | ₩709.61 won today |
| ₩1,000 won in 2008 | ₩1,419.21 won today |
| ₩5,000 won in 2008 | ₩7,096.06 won today |
| ₩10,000 won in 2008 | ₩14,192.13 won today |
| ₩50,000 won in 2008 | ₩70,960.64 won today |
| ₩100,000 won in 2008 | ₩141,921.28 won today |
| ₩500,000 won in 2008 | ₩709,606.41 won today |
| ₩1,000,000 won in 2008 | ₩1,419,212.82 won today |
How to calculate inflation rate for ₩2,100,000 since 2008
Our calculations use the following inflation rate formula to calculate the change in value between 2008 and today:
CPI today CPI in 2008
×
2008 KRW value
=
Today's value
Then plug in historical CPI values. The South Korean CPI was 86.07927 in the year 2008 and 122.16480370129565 in 2024:
122.1648037012956586.07927
×
₩2,100,000
=
₩2,980,346.93
₩2,100,000 in 2008 has the same "purchasing power" or "buying power" as ₩2,980,346.93 in 2024.
To get the total inflation rate for the 16 years between 2008 and 2024, we use the following formula:
CPI in 2024 - CPI in 2008CPI in 2008
×
100
=
Cumulative inflation rate (16 years)
Plugging in the values to this equation, we get:
122.16480370129565 - 86.0792786.07927
×
100
=
42%
Data source & citation
You may use the following MLA citation for this page: “₩2,100,000 in 2008 → 2024 | South Korea Inflation Calculator.” Official Inflation Data, Alioth Finance, 20 Dec. 2025, https://www.officialdata.org/south-korea/inflation/2008?amount=2100000.
Special thanks to QuickChart for their chart image API, which is used for chart downloads.
| Cumulative price change | 41.92% |
| Average inflation rate | 2.21% |
| Converted amount ₩2,100,000 base | ₩2,980,346.93 |
| Price difference ₩2,100,000 base | ₩880,346.93 |
| CPI in 2008 | 86.079 |
| CPI in 2024 | 122.165 |
| Inflation in 2008 | 4.67% |
| Inflation in 2024 | 4.21% |
| ₩2,100,000 in 2008 | ₩2,980,346.93 in 2024 |