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MARKETS | Staff Reporter, Korea

Number of fake South Korean banknotes down 19.4% in H1

The number of fake 50,000 won bills only came at 11, from 35 last year.

The number of fake South Korean banknotes found in the country came at 129 from January-June, down 19.4% from the 160 bills found a year earlier, reports Yonhap News Agency.

Data from the Bank of Korea (BOK) revealed that the combined value of the counterfeits also declined by 47.4% to $1,168 (KRW1.4m) during the period, from $2220 (KRW2.66m) in H1 2019.

The half-year tally marks a steady decline since the second half of 2017.

By denomination, the number of fake 50,000-won bills found in the first half came to 11, compared with 35 in the first half of 2019.

Meanwhile, the number of fake 10,000-won bills and 5,000-won bills came to 60 and 48, respectively, both down from 61 and 59 last year.

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