Controversial 50,000-won bill will begin circulation in South Korea in June

[unhappycamper]

Controversial 50,000-won bill will begin circulation in South Korea in June
By Hwang Hae-rym and Karen Willenbrecht, Stars and Stripes
Pacific edition, Monday, March 2, 2009

A billfold bursting with Benjamins can make you look like a rock star, but sitting on a fat stack of low-value bills is just a pain in the … you know.

In South Korea, where the highest denomination of bank note is the 10,000-won bill — worth around $6.50 on Friday — a night out on the town means a wallet stuffed to the seams. Paying your rent by cash? Better bring an armored car.

But the weighty situation will improve in June, when the Bank of Korea begins circulating 50,000-won notes.

The bank unveiled the final design of the new bill on Wednesday. It will be slightly longer than the 10,000-won note and predominantly yellow.

The new bill has been in the works for some time but has been delayed by controversy. Proponents argued that Korean currency hadn’t kept pace with rising prices and incomes in the country, but opponents of large bills feared they could lead to increased corruption, spiraling costs and excessive spending.

Rest of article at: http://www.stripes.com/article.asp?section=104&article=61058

[izquierdista]

1. Talk about won-ton wrappers....