The long awaited 50,000 Won note is now available to the public as of June 23rd and you can be sure it is going to be popular.
For teachers it means you don't need a briefcase or a backpack to collect your salary or head out for a night on the town and for Koreans it is very very long awaited. The highest note previously was 10,000 Won and that was introduced back in 1973.
There is a lot of infrastructure changes that need to occur with bank machine programming to add the notes to the machines and the capacity to handle the notes in the first place so don't expect it to be instantaneous transformation. Right now the best bet is to join the queue at the bank to get your new note.
There is a rumour that the 100,000 Won checks will be replaced by the issuance of these 50,000 Won notes and it is only a matter of time before the 100,000 Won note is introduced.
The bill features Shin Saim-dang, a famous female writer and calligraphist who died in 1551. The front of the bill shows artwork and a portrait of Shin. This is the first note or coin with a woman on it in South Korea.
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