Currency Notes
by DSwede
As of today (June 23, 2009), Korea has now officially issued the 50,000 KRW note. It is yellow in color.Until now, Korea had only issued paper currency in the denominations of 1,000 / 5,000 / 10,000.This was done for a various number of reasons, but most popularly accepted is to deter corruption and bribery. It is widely accepted that passing along large sums of untraceable money is more difficult if the largest denomination is 10,000 KRW ($7.80 USD as of June 23, 2009).Korean banks and cash kiosks are distributing the new 50,000 notes (~$39 USD) immediately.Limited ATM's are already capable of distributing, but bank branches are being fitted quickly.According to one on-line site:"The portrait on the new bill is another source of ongoing controversy. The bank selected Shin Saim-dang — a renowned writer, artist and calligrapher and mother of Lee Yulgok, a scholar whose face is on the...