April 20, 2024
Economy
W16.5b coins returned to BOK in Q1
[THE INVESTOR] Coins worth more than 16.5 billion won (US$14 million) were returned to Korea’s central bank in the first quarter, data showed on May 1.
The figure represents a 375 percent hike from 3.47 billion won tallied in the previous quarter, according to the Bank of Korea.
It also marked the highest amount since the second quarter of 1998.
The central bank has been striving to retrieve coins in a campaign towards becoming a coinless society to help boost consumer convenience and cut down on the costs of coin production.
By Alex Lee and news wires (alexlee@heraldcorp.com)
The figure represents a 375 percent hike from 3.47 billion won tallied in the previous quarter, according to the Bank of Korea.
It also marked the highest amount since the second quarter of 1998.
The central bank has been striving to retrieve coins in a campaign towards becoming a coinless society to help boost consumer convenience and cut down on the costs of coin production.
By Alex Lee and news wires (alexlee@heraldcorp.com)
