Central Banking

Korea plans new high-denomination banknotes

The Bank of Korea has drawn up a pool of ten historic figures for the design of its new 50,000 and 100,000 won ($54.16 and $108.32 respectively) banknotes, scheduled to debut in early 2009.

The central bank set up an advisory committee, headed by the bank's deputy governor, to pick figures for the larger denomination bills.

Wang Yong-ki, head of the central bank's currency issue department, said the Bank of Korea is taking extreme care in selecting figures for the banknotes because it is quite a

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