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Bank of Korea to limit exchanges of used banknotes for fresh ones Updated: 2022-02-21 15:38:46 KST

From next month, it'll get a little harder in Korea to get crisp new banknotes for the cash gifts that are common at some holidays and special occasions.
The Bank of Korea said today that in principle it's only going to give out brand new bills in exchange for bills that are severely damaged.
Until now, the BOK had provided fresh notes even for gently used ones.
It said the change is aimed at reducing the cost of printing excessive amounts of paper money.
New bills will still be available at holidays like the Lunar New Year, but they'll be limited to a million won per person per day for Korea's biggest banknote the 50-thousand won bill which is worth around 42 dollars.
KOGL : Korea Open Government License
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