Korean banknote redenomination 'not urgent'

Bank of Korea Governor Park Seung said on Thursday 9 September that changing the denominations or issuing higher-value banknotes is not an urgent issue. Currently, the largest denomination is a 10,000 won note, which is worth less than $10.

"Though the BOK has already completed its analysis on effects of the re-denomination over the past two years, the nation should be prudent over the policy," he said.

He added the central bank will negotiate with the government over the matter over the next f

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