South Korea’s First Ever Commemorative Banknotes Celebrate Pyeongchang 2018 Winter Olympics

07 Sep 2017  Thu

South Korea is going to issue new commemorative 2,000-won banknotes to celebrate the 2018 Pyeongchang Winter Olympic Games. It would be the country’s first ever commemorative banknote. It would also be first of its kind denomination in Korea. Korean currency generally uses values of 1 and 5 ratios, or their higher equivalents.

The obverse of the new banknote depicts eight sports: Speed skating, ice hockey, curling, biathlon, ski jumping, luge, and bob sleigh. It also features the logo of Olympic Games.

A painting called “Tiger under a Pine Tree”, by Kim Hong-do is featured on the reverse. Artist Kim Hong-do belonged to the last imperial rulers of Korea, the Joseon Dynasty (1392-1910). A white tiger named “Soohorang” is the mascot of the games as well.

2.3 million banknotes will be released on 17th November and its price has not yet been revealed. The issues will include collector combinations of 920,000 single notes, 210,000 two-note sheets, and 40,000 24-note sheets. Pyeongchang Olympic Organizing Committee will buy the bank notes in bulk and re-sell them to national and international buyers.

The 2018 Winter Olympics will take place from 9th to 25th February 2018. 90 nations would be participating in 102 events. The Republic of Korea had hosted its first Olympic event in 1988 in Seoul. This is the second time that the country is hosting an Olympic event.