President of BOK Will Consider a new 100,000 won Note

Chun Chol Hwan, president of the Bank of Korea, said on October 28, ' BOK will reconsider issuing a new 100,000 won bank note in earnest sometime in the future.'
President Chun replied to questions posed by lawmakers during a National Assembly session on whether Korea will see the day of a 100,000 won note.
Whereas, he pointed out that there is heavy criticism to issuing a 100,000 won note because it may result in inflationary pressure. The Bank of Korea has always been reluctant to issue the 100,000 won note for the same reason that it will stimulate inflation.
Whereas, the Ministry of Finance and Economy (MOFE) has been insisting a new 100,000 won note be issued because it is economical practical due to the decrease of current check issuing costs.
Accordingly, the pro and con forces on the issue of the 100,000 won note are expected to engage in passionate debates.