Lee Yeon-woo is a financial journalist at The Korea Times. Her wide range of reporting includes policies, macroeconomics, stock market, companies and even crypto. She is passionate about connecting the dots in Korean finance and making it easier for foreign nationals to understand. Based on her previous experience as a national reporter, she also has a keen interest in social issues within the sector, including gender equality and ESG. Your tips and insights are always appreciated. You can send them to yanu@koreatimes.co.kr.
KOMSCO begins sales of premium pen made from discarded banknotes
A premium golden pen designed by Korea Minting and Security Printing Corp. (KOMSCO) / Courtesy of KOMSCO
By Lee Yeon-woo
The Korea Minting and Security Printing Corp. (KOMSCO) has begun selling a premium golden pen crafted from recycled banknotes, available through its official online and offline stores, the state-run company said Monday.
This special golden pen was introduced in July on the crowdfunding platform Wadiz, where it gained widespread attention, exceeding its funding goal by 987 percent.
KOMSCO is expanding its product line by repurposing byproducts generated during the currency manufacturing process, creating new value from recycled currency materials. Each year, approximately 500 tons of byproducts are produced from defective or discarded banknotes during printing and distribution.
Its first product was a ballpoint pen made with recycled banknote materials. Marketed as a product that brings wealth, it sold out quickly each time new stock was released.
The newly developed golden pen has been crafted as a premium gift. The pen is entirely gold-coated, and its top section contains byproduct material equivalent to that of a 50,000 won ($36) banknote.
It comes in a sleek, gold-colored metal case and includes a refill cartridge and a portable leather case. All components are engraved with the logo of KOMSCO's currency byproduct brand, "moneymade."
The special edition is priced at 36,000 won on the official online store (www.koreamint.com). For offline purchases, it is available for 33,000 won at KOMSCO’s product store in western Seoul's Mapo District and the Currency Museum in Daejeon's Yuseong District.
A commemorative banknote celebrating the 80th anniversary of Korea's liberation / Courtesy of Korea Minting and Security Printing Corp.
Customers who purchase through the online store will also receive a special bonus gift on a first-come, first-served basis: a commemorative, noncirculating banknote celebrating the 80th anniversary of Korea’s liberation.
"The 'currency goods' project is a meaningful initiative that creates new value by shedding new light on the byproducts generated during the currency manufacturing process," KOMSCO CEO Sung Chang-hoon said.
"Going forward, KOMSCO aims to become a leading example of realizing a circular economy and delivering social value through diverse applications of currency byproducts."