Economy
[News Focus] Korean currency’s par value remains untouched for 57 years
March 26, 2019
SEJONG -- It has been 17 years since former Bank of Korea Gov. Park Seung proposed slashing the face value of the nation’s currency upon taking office in April 2002.Under Park, the central bank pushed for redenomination in a low-key manner, seeking to do away with 10,000 won, 5,000 won and 1,000 won notes and replace them with notes worth 10 hwan, 5 hwan and 1 hwan. The BOK project, initiated in the fifth year of the government of former President Kim Dae-jung, came to the fore d