No. of fake banknotes dips to record low in H1 amid pandemic

The number of counterfeit South Korean banknotes dropped to a new record low in the first half as the COVID-19 pandemic accelerated the decline of cash use, the Bank of Korea (BOK) said Tuesday.

In the January-June period, the number of fake banknotes found here came to 38, down from 161 a year earlier and marking the lowest since the BOK began releasing such data in 2000.

By denomination, 5,000-won counterfeit bills accounted for more than half of all counterfeit bills found here, with 22 bills, while 10,000-won counterfeit bills came to eight.

The highest-denomination bill (50,000 won) had only four counterfeit cases in the first half, according to the central bank. (Yonhap)