South Korea’s fake banknotes plummet to historic low in 2025
South Korea recorded fewer than 100 counterfeit banknotes in 2025 for the first time. The decline marks a significant drop from previous years, with only 98 fake notes detected. Authorities link the trend to changing payment habits and better public vigilance.
The number of counterfeit banknotes in circulation has steadily fallen since 2018. That year, the figure first dipped below 1,000, and the downward trend has continued. In 2025, just 1.4 fake notes were found per 100 million genuine ones.
Last year’s total of 98 counterfeit banknotes represents a 33.3% decrease from 2024. The rate is now far lower than in other major economies, including Britain (1,977), the eurozone (1,866), Canada (757), and Japan (16.5). Experts attribute the sharp decline to two key factors. More people are using digital payments instead of cash, reducing opportunities for counterfeiters. At the same time, public awareness campaigns have made it harder for fake notes to go unnoticed.
The drop in counterfeit banknotes reflects a broader shift away from physical currency. With fewer cash transactions and greater public caution, the problem has diminished. Officials expect the trend to continue as digital payments, like those facilitated by apps such as the Cash App, become even more widespread.
