19.82 Million Won Wrapped in Newspaper and Stored as Cash... 3 Trillion Won Has Rotted Away

[Financial News] #1. Mr. Kim, who lives in Chungbuk, was shocked when he took out 19.82 million won in banknotes that he had wrapped in newspaper and stored in a warehouse for a long time. Because of the humidity, the banknotes had become sticky, partially melted and stuck together.#2. Mr. Oh, a resident of Daejeon Metropolitan City, discovered that 592 ten-thousand-won notes he had hidden under the floor covering had been scorched and deteriorated. Fortunately, he was able to exchange the damaged currency at full face value.Although the two cases above may seem unusual, according to BOK on the 13th, as many as 364.01 million banknotes were so severely damaged or contaminated last year that they had to be discarded.
According to the "Scale of Damaged Currency Disposal in 2025" released by BOK that day, the 364.01 million banknotes discarded last year had a total face value of 2.8404 trillion won. If the discarded notes were laid end to end, they would stretch 44,043 kilometers—long enough to circle the Earth (about 40,000 kilometers) and still have some left over. Stacked one on top of another, they would reach a total height of 147,017 meters, 17 times higher than Mount Everest (8,849 meters) and 265 times the height of Lotte World Tower (555 meters).
What is striking is that this represents a decrease of about 23.3% (110.88 million notes) compared with the same period in 2024, when 474.89 million banknotes with a face value of 3.3761 trillion won were discarded. BOK attributed the decline mainly to reduced volumes of currency being returned to the central bank, driven in part by increased demand for cash due to lower market interest rates.
Damaged currency refers to banknotes and coins that have been withdrawn from circulation and judged by BOK to be unfit for use due to damage or contamination. By denomination, 295.18 million banknotes with a face value of 2.8286 trillion won were destroyed, with 10,000-won notes accounting for the largest share at 145.49 million notes, or 49.3% of the total. As for coins, 68.82 million pieces with a face value of 11.8 billion won were discarded, with 100-won coins making up the largest portion at 30.19 million pieces.
In cases like those mentioned above, where banknotes are damaged by fire or other causes and can no longer be used, if at least three-quarters of the original area remains, they can be exchanged for the full face value. If more than two-fifths but less than three-quarters remains, they can be exchanged for half of the face value. For coins, as long as their shape can still be recognized and their authenticity can be determined, they are generally exchangeable at full face value.
BOK stated, "If people handle currency carefully and keep it clean, we can reduce the cost of producing new money every year," adding, "We plan to continue promoting our 'Use Money Cleanly' campaign on an ongoing basis."
bng@fnnews.com Kim Hee-sun Reporter