Starting in May, the Bank of Korea said on the 18th that it has been compressing and incinerating coins designated for disposal that are unsuitable for reissue due to contamination or damage. The Bank of Korea explained, "The aim is to carry out the incineration of the increased number of coins designated for disposal more efficiently and quickly," adding, "This is being implemented in addition to the existing external melting-incineration method."
Compressed coin waste is stamped with a V-shaped mark on one side to indicate invalidity. The Bank of Korea said, "We are strictly managing it to prevent any leakage to the outside until final melting," and added, "If someone obtains coin waste that has been corrugated, compressed, and incinerated and uses it as money, it may constitute a crime related to currency counterfeiting."
Regardless of coin incineration, the issuance policy remains unchanged. The Bank of Korea said, "Coins will continue to be issued and redeemed in line with public demand," adding, "People should continue using coins as before."