Counterfeit notes found in S. Korea fall 34% in first half of 2026: BOK

The Bank of Korea said Wednesday that 41 counterfeit banknotes were discovered in circulation during the first half of this year, down 33.9 percent from 62 notes in the same period last year.

The counterfeits were either detected by the Bank of Korea during routine currency handling or reported to the central bank by financial institutions that found them during cash intake or over-the-counter transactions.

The total face value of the counterfeit notes came to 473,000 won ($310), down 97,000 won from 570,000 won in the first half of last year. The decline was largely driven by a drop in forged 50,000-won notes, which fell from 15 to five.

By denomination, the haul included 11 forged 10,000-won notes, 22 forged 5,000-won notes and three forged 1,000-won notes.

The Bank of Korea said 12 previously unseen serial numbers were identified among the counterfeits, with four each appearing on 50,000-won and 10,000-won notes, indicating that new forgery attempts are concentrated on higher-denomination bills.

South Korea recorded 0.6 counterfeit notes per 100 million banknotes in circulation, far below rates in the United Kingdom (4,229), the euro area (1,461), Canada (1,411) and Japan (8.6).

Meanwhile, the Bank of Korea's governor presented a commendation to the Icheon Police Station in Gyeonggi Province for apprehending counterfeiters and individuals who passed forged currency.