South Korea’s central bank has supplied over 6 trillion won worth of new banknotes ahead of the Lunar New Year holiday.

Xinhua reports that the banknotes were issued to banks and other financial institutions from 10 – 23 January.

According to the news agency, it was up 1% from the banknote issuance made before last year’s holiday season.

The Lunar New Year holiday will continue from 24 – 27 January.

Xinhua explains that during the Lunar New Year holiday, demand for new banknotes intends to increase because of a South Korean tradition where children and students bow before their elders and receive small gifts of money.

Join the conversation. Join our LinkedIn Group.

Keesing Technologies

Keesing Platform forms part of Keesing Technologies
The global market leader in banknote and ID document verification

+ posts

The Keesing Platform team brings you the latest in various fields, including security documents, security printing, banknotes, identity management, biometrics, blockchain, crypto technology and online onboarding.

Previous articleJamaican e-passports a ‘game changer’
Next articleRwanda might waive visa fees