By Na Jeong-ju
Staff Reporter
The Bank of Korea (BOK) is considering signing a deal with a U.S. banknote technology developer to introduce optically-active anti-forgery features on the 100,000 won ($106) bills, which will debut early next year.
The technology, developed by Crane AB, a U.S. firm based in Tumba, Sweden, provides viewers with specific holographic images that moves when the banknote is tilted. It was only used in Sweden's new 1,000 kronor notes, launched in March 2006.
The United States also plans to use the technology on its new $100 bills.
``We are considering setting up new counterfeit deterrents on the 100,000 won banknote. We are looking into the features on Sweden's new 1,000 kronor note, which is regarded in the world as a good example of highly secure banknotes,'' a BOK official said.
The 1,000 kronor note was picked last year as one of the five best new banknotes in the world by the International Association of Currency Affairs for adopting the anti-counterfeit technique.
``We are now considering various features on new bills, but nothing has been decided yet,'' the official said.
Crane AB's parent firm, Crane & Company, has manufactured currency and security papers for nearly 200 years. It has supplied the U.S. Treasury with its currency paper since 1879.
Crane AB has a patent for banknote paper with embedded silk threads. It has been developing paper-based anti-forgery technology, such as security threads, watermarks and fluorescent and phosphorescent elements, according to its Web site.
Currently, the country's highest denomination currency is the 10,000 won ($11) bill, followed by 5,000 won and 1,000 won notes. The BOK decided late year to release 50,000 won and 100,000 won bills in early 2009 to meet growing demand for higher-denominated bills in line with the country's growing economy.
The 100,000 won and 50,000 won banknotes will be gray and yellow in color, respectively, accommodating new anti-forgery features, according to the central bank.