By Kim Yon-se
Staff Reporter

The monetary policy committee, the Bank of Korea (BOK)’s decision-making panel, approved the BOK’s plan issue of new 5,000-won banknotes during the first half of next year as part of its anti-forgery measures.

The committee and the BOK chose not to make public the new designs until next year. But BOK officials said that the central bank is diversifying the design of buildings and emblems on the bills, without changing the font.

Additionally, it has decided to change the BOK governor’s seal on the center of the banknotes from a circle to a rectangular shape, marking the first time the seal has been changed since the banknotes were introduced in 1950.

After its establishment in June 1950, the BOK began issuing bills, benchmarking Japanese bills, in July 1950.

The red, circle-shaped seal has been considered one of the remaining vestiges of Japanese imperialism. Internet users have continued to point out that the seal resembles the Japanese flag.

Reflecting the public sentiment, the BOK also decided to change the color of the seal from red into various colors according to the base color of the banknote.

The 5,000-won note will become reddish-yellow and the 1,000-won bills will be blue, from their present yellowish-brown and purple. But the central bank will maintain the base color of the 10,000-won note.

kys@koreatimes.co.kr