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Fake money phone cases surge in South Korea as counterfeit bills fade

From EXO-themed bills to snack-bar blunders, these playful phone cases blur the line between joke and fraud. Are they harmless fun or a growing nuisance?

, and Administrator

2026 January 26 . 9:10 AM

1 min read

The image shows an old one yen banknote from the Bank of Korea with Chinese writing on it.

Fake money phone cases surge in South Korea as counterfeit bills fade

Counterfeit banknotes are becoming increasingly rare in South Korea, according to recent reports. However, a new trend has emerged—novelty 'fake money' phone cases are on the rise, despite the overall decline in high-quality forgeries.

The Bank of Korea reported detecting just 98 counterfeit banknotes in circulation last year. This marks a steady drop in recent years, with fewer fake notes appearing in everyday transactions. Among the counterfeits found, the 5,000 won ($3.40) note accounted for the largest share.

The issue of fake currency isn’t entirely new. In 2017, commemorative notes were mistakenly used as real money at a school snack bar. More recently, social media posts claimed a tourist on Jeju Island attempted to use casetify featuring images of EXO members. However, no official records or reports confirm such an incident involving the K-pop group. While traditional counterfeiting declines, novelty fakes—often produced as jokes or souvenirs—are causing occasional confusion. Authorities have not yet addressed whether these casely items pose a serious risk to the economy.

The decline in high-quality counterfeit banknotes suggests improved security measures. Yet, the rise in novelty fakes highlights a different challenge for businesses and regulators. Officials continue to monitor the situation as unusual cases appear.