South Korea drops revaluation plan

South Korea's plan to raise the value of the local currency and issue higher face-value banknotes has been dropped for fear of a possible negative impact on the overall economy.

Finance-Economy Minister Han Duck-soo said he is against the central bank's plan for currency re-denomination and issue of 100,000 won bills.

``The government has decided not to re-denominate existing banknotes and issue new notes with a higher face value,'' Han said.

Han said that instead, the government plans to improv

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