BOK to issue new banknote in May or June

SEOUL, Jan. 27 (Yonhap) -- South Korea's central bank said Tuesday it plans to
issue a 50,000 won (US$35.93) bill in May or June after beefing up anti-forgery
works.
In May 2007, the Bank of Korea (BOK) said it was planning to issue 100,000 won
and 50,000 won bills in the first half of this year. On Thursday, it decided to
drop a plan to issue a 100,000 won bill at the request of the government amid
controversy over its design and effectiveness, but will push to issue the other
new bill as planned.
Currently, 10,000 won notes are the country's highest-denominated bills, followed
by 5,000 won and 1,000 won.
"The BOK plans to make public the final version of the 50,000 won bills in
February and to put the notes into circulation starting in May or June," an
official at the BOK said.
Shin Saim-dang, a renowned female writer and calligraphist, is to be featured on
the 50,000-won bills. Shin was also the mother of Yulgok, one of the most
respected scholars of the Joseon Dynasty (1392-1910).
sooyeon@yna.co.kr
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