Counterfeit bills down 39.6 pct in H1

SEOUL, Aug. 6 (Yonhap) -- The number of counterfeit South Korean bank notes fell 39.6 percent in the first half from a year earlier due mostly to a successful crackdown on forgers, central bank data showed Wednesday.

The number of counterfeit bills reported to the Bank of Korea reached 1,300 in the January-June period, shrinking from 2,154 the previous year, according to the data.

The number of fake 50,000 won (US$48) bills, the highest denomination in the Korean currency system, plunged 59.3 percent on-year, while that of 10,000 won bills fell 33.6 percent.

The number of 5,000 won bills and 1,000 won bills tumbled 40.7 percent and 81 percent, respectively.

The 5,000 won denominations accounted for 67.3 percent of all counterfeit bills, followed by 10,000 won bills at 30.6 percent.

The number of fake bills per 1 million bank notes reached 0.3 during the first six months of the year, down from 0.5 in the same period last year.

The figure is low compared with other countries. Australia found 10.2 fake bills per 1 million bank notes, followed by Canada with 29 and the eurozone with 40.6, according to the latest available data.

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