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Korean fake bills increase 8.4% in H1

The number of counterfeit South Korean banknotes rose 8.4 percent in the first half from a year earlier mainly due to a jump in the discovery of fake banknotes in the second-highest denomination, the central bank said Monday.

The number of counterfeit bills found in the country reached 5,153 in the January-June period, compared with 4,755 the previous year, according to the Bank of Korea. Compared with six months earlier, the number of fake bills gained 13.4 percent.

Currently, the 50,000-won note ($47), first issued in June 2009 is the country’s highest denominated bill, followed by 10,000 won, 5,000 won and 1,000 won bills.

The number of counterfeit 10,000 won notes jumped 67.1 percent on-year to 2,297 in the first half and that of fake 50,000-won bills reached 33 in the cited period, the central bank said.

South Korea issued new versions of the 1,000-won note and the 10,000-won bill with anti-forgery features in late January 2007, after issuing new 5,000-won notes in early 2006. 

(Yonhap News)
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