South Korea 50,000 won banknote circulation exceeds 195 trillion won

The outstanding balance of 50,000 won banknotes in circulation has surpassed 195 trillion won, marking a significant increase of 51.2 trillion won (35.5%) compared to the end of 2021. Data provided by the Bank of Korea to National Assembly member Bae Jun-young reveals that the supply of these high-denomination notes has grown steadily every year since 2021.

While the national recovery rate of these notes peaked at 67.1% in 2023, it has declined for two consecutive years, falling to 47.7% in 2024 and 38.2% last year. This decline indicates a widening gap between the amount of currency issued and the amount returned to the central bank.

There are notable regional disparities in currency recovery. While Jeju reported high recovery rates, the Daegu and Gyeongbuk regions showed significantly lower rates, recorded at 7.4% last year and 14% between January and July of this year. Representative Bae Jun-young emphasized the need for the Bank of Korea to closely analyze regional currency demand and circulation flows to ensure stable monetary supply management, especially as non-cash payments become increasingly common.