Fake 10,000 won in circulation

I blame the lack of updates on my desktop system. After a few hours of tinkering, it turned out that the problem was only a loose SATA II cable. I went to Yongsan to get a new one yesterday.

Anyway, are fake 10,000 won in circulation? Yes.
Where did the money come from? From the police! LOL!

A few weeks ago, a wife of a bakeshop owner was kidnapped for ransom. The kidnappers demanded 70 million won so the police prepared the same amount (in Korean news it was 73 million won) in fake bills. When the husband of the kidnapped victim handed the bag to the suspects, the latter fled and a chase ensued. Read the article “Dumb’ Police Apprehend ‘Dumber’ Kidnapper” from The Korea Times for the rest of the story.

Last night, it was reported that some of the money are now in circulation. These fake money all have the same serial number EC1195348A. They have a gray lining and are a millimeter longer than the real bills.

The Bank of Korea criticized the police for producing the bank notes without informing them. The police agency made 120,000 pieces of the bill.

Incidentally, the Bank of Korea has announced that 50,000 won bill will be in circulation from June of this year. They originally planned to issue 100,000 won and 50,000 this year but there was a controversy surrounding the 100,000 won bill. So I guess we still have the use the bank issued 100,000 won checks.

The 50,000 won bill will feature Shin Saimdang, a Chosun dynasty artist and calligraphist. I remember that there was also an opposition from the women’s group regarding the choice. Some sectors thought that “she was only a mother” and her accomplishment as a calligraphist is anachronistic as a representative of the women of today. Of course, there are those who think that Yi Yulgok will not be the great Confucian philosopher that he was without the guidance of his wise mother. Yi Yulgok or Yi I is on the face of the current 5,000 won bill.

4 comments

  1. Whoops, that’s a bit of a mix up! Quite an embarrassment for the police, I’m sure. We get a lot of funny looking notes in Vietnam but I haven’t worked out if they are conterfeit or just lost their colour after going through a washing machine – most people still seem to accept them!

    Jonnys last blog post..Phu Quoc

  2. Hi Tita Betch, have you heard of the “P100 Arrovo Bill” back in 2006/2007?

    It was said that some Philippine money are actually made in somewhere else. Spain I guess. And that foreign-made bills carried an error. Pres. Arroyo’s name was typed as “Gloria Macapagal-Arrovo”. I heard that “Arrovo” is something bad in the Spanish language so the government had to get those bills back. I had one before, but moving to Canada, I left it between my favourite book (which I passed on to my friend)

    Aarons last blog post..새로운 네이트가 열립니다!!!

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