W50,000 Bill to Debut in June
By Kim Jae-kyoung
Staff Report
South Koreans will not have to carry a fat wallet full of 10,000-won notes any more, with a new 50,000-won bill scheduled to make its official debut in June.
Unveiling a specimen of the new bill, the Bank of Korea (BOK) said Wednesday that they will enter circulation sometime during that month.
The new note will be the nation's largest-denomination bill. Currently, 10,000-won notes are the highest available, followed by 5,000 won and 1,000 won.
Shin Saim-dang, a renowned female writer and calligraphist who died in 1551, is featured on the note. It will be the first time that a woman has appeared on Korean banknotes. Shin is widely referred to as the symbol of a ``wise mother and good wife.''
The front of the bill shows artwork by, and a portrait of, Shin, who was also the mother of Yulgok, one of the most respected scholars of the Joseon Dynasty (1392-1910). The back of the bill shows artwork by Lee Jeong, a well-known artist of the time.
The central bank said the new note is equipped with advanced anti-forgery features, such as a security thread, intaglio printing, a hologram stripe, a watermark and rainbow printing.
``We beefed up anti-forgery features of the new bill as we believe that since the new note is a large denomination bill, there will be more attempts to counterfeit them,'' a BOK official said.
The central bank had earlier pushed to issue 100,000-won and 50,000-won bills in the first half of the year, but dropped the 100,000-won note at the request of the government amid controversy over its design and effectiveness.