It looks like South Korea will be putting out new Korean Won notes soon. The question I have is, when will they put out 20,000 and 50,000 Won notes? Why is 10,000 the highest? I know they have 100,000 bank Money orders, but it is not the same!

Thanks to an increase in counterfeiting of South Korean bank notes, get ready for South Korean paper money that looks different from what you may be used to.

The South Korean government announced recently it would begin issuing newly designed 10,000-won and 1,000-won notes Monday. It already had issued new 5,000-won notes Jan. 2.
But you’ll still be able to use the old money — worth about $10 and $1.

The government is taking the action to thwart what Bank of Korea officials said is a recent increase in counterfeiting, especially of 5,000-won notes.

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About a week ago I was looking at your post about the Korean items for sale on eBay. Someone was auctioning off a stack of 5000 won bills valued at around $500. The auction price when I was looking at it was about $230 at the time. I wondered if they were counterfeit.