New forgery-proof W5,000 banknotes will go into circulation on Jan. 2, the Bank of Korea said Tuesday. Some 80 million W5,000 bills with enhanced security features provided by the Korea Minting and Security Printing Corporation will be kept at the BOK’s headquarters and regional headquarters until their delivery to financial institutions.
The old W5,000 note can be swapped at the central bank at any time, but there should be no problems continuing to use them, the bank said. However, it will not be possible to deposit the new notes in ATMs, which will not be changed until the first half of 2007, when the BOK releases new W10,000 notes.
New W5,000 notes with serial numbers 1-100 will be displayed at the BOK museum, and those with serial numbers 101-10,000 will be put up for Internet auction from January to March. The proceeds will go to charity.