S.Korea Supplies Over Five Billion USD Banknotes Ahead Of Lunar New Year Holiday

SEOUL, S.Korea, Jan 23 (NNN-YONHAP) – South Korea’s central bank, supplied over six trillion won (5.1 billion U.S. dollars) worth of fresh banknotes, ahead of the Lunar New Year holiday, the Bank of Korea (BOK) said.

About 6.09 trillion won (5.2 billion U.S. dollars) worth of new bills were issued to banks and other financial institutions, from Jan 10-23. It was up 1.0 percent from the banknote issuance made before the holiday season a year earlier.

The new banknote issuance came, ahead of the Lunar New Year holiday that will continue from Jan 24 to 27.

During the holiday, demand tended to increase for new banknotes because of a South Korean tradition of the elders providing cash gifts for younger ones, after receiving a deep bow as the New Year greeting.

Some local businesses still offer New Year bonus of fresh banknotes to employees.– NNN-YONHAP