The Bank of Korea announced on the 3rd that it disposed of 475 million damaged banknotes last year. This is equivalent to 3.3761 trillion won based on face value.
According to the central bank, the amount of damaged currency disposed of last year decreased by 1.9% compared to 483.85 million pieces (3.8803 trillion won) in 2023. However, this is an increase of 15% compared to 412.68 million pieces (2.6114 trillion won) in 2022.
By type, 373.36 million banknotes (face value 3.3643 trillion won) and 10.51 million coins (118 billion won) were discarded. Among the banknotes, 19.704 million 10,000 won notes were disposed of, making up 52.8% of the total. This was followed by 1,000 won notes (13.38 million, 35.8%), 50,000 won notes (2.328 million, 6.2%), and 5,000 won notes (1.924 million, 5.2%).
If the disposed currency were laid out side by side, the total length would measure 55,906 kilometers, which is equivalent to about 67 round trips on the 415-kilometer Gyeongbu Expressway. If the damaged currency were stacked vertically, the height would reach 20,370.1 meters, which is 23 times the height of Mount Everest (8,849 m) and 367 times the height of Lotte World Tower (555 m).
The amount of coins disposed of was 10.51 million pieces (118 billion won), with 10 won coins (36.56 million) accounting for 36%. Following this were the 100 won coins (35.62 million, 35.1%), 50 won coins (15.07 million, 14.8%), and 500 won coins (14.29 million, 14.1%).
According to the central bank, in the event of damage to banknotes due to fire or similar circumstances, if more than 75% of the area remains, the entire face value can be refunded. If the remaining area is between 40% and 75%, half of the face value can be returned, while if it is less than 40%, no refund will be possible. For coins, they can be exchanged at face value unless their shape is hard to identify or determining if they are counterfeit is difficult.
The central bank noted, "If currency is used cleanly, expenses incurred for manufacturing currency each year can be reduced," and stated, "We will continue to promote the 'clean currency usage' campaign actively in the future."