Volume of damaged banknotes surges in 2023 amid post-pandemic
This undated photo shows 50,000-won banknotes damaged by fire. Courtesy of Bank of Korea
Both the volume and face value of damaged banknotes found in Korea surged last year as people used cash more after the COVID-19 pandemic, the central bank said Wednesday.
The face value of damaged banknotes discarded by the Bank of Korea came to 3.88 trillion won ($2.89 billion), compared with 2.64 trillion won the previous year, according to the BOK.
The volume of damaged banknotes also spiked 17.2 percent on-year to 484 million bills last year, the Bank of Korea (BOK) said.
The central bank said the surge in damaged banknotes came as people used more cash in tandem with increased outdoor activities and contact consumption in the midst of the post-pandemic. (Yonhap)