SEOUL – An unexpected phenomenon is sweeping the global fanbases of Korean culture. The South Korean 10,000 won banknote, once merely a medium of exchange, has transformed into a must-have "merchandise" item for international fans, thanks to the massive success of the Netflix animated series K-Pop Demon Hunters.
According to financial and industry sources on February 28, demand for the 10,000 won bill is skyrocketing in regions such as Hong Kong and Southeast Asia. The craze is rooted in "Irworobongdo," a traditional Korean painting featured prominently in the animation. When fans discovered that this iconic artwork is printed on the Korean 10,000 won bill, they began collecting the currency as a souvenir.
K-Pop Demon Hunters, released last June, has become a global syndrome. As of February 27, it ranks as the #1 "Most Popular Movie" of all time on Netflix, garnering over 325 million views. The painting "Irworobongdo"—which depicts five mountain peaks, the sun, and the moon—appears as the stage backdrop for the hit song "Golden" performed by the fictional girl group 'Huntrix.'
Originally, Irworobongdo was a folding screen placed behind the royal throne (Eojwa) during the Joseon Dynasty, symbolizing the king's divine authority and the eternal prosperity of the nation. It was incorporated into the design of the 10,000 won bill in 2007.
This cultural fever is contributing to a surprising trend in the financial sector. Despite the rapid transition toward a "cashless society," the issuance of banknotes is actually increasing. According to the Bank of Korea, the balance of currency issued at the end of last year reached 210.7 trillion won, a 9.1% increase from the previous year. Specifically, banknote issuance rose by 17.7% compared to 2024.
While the use of cash for daily transactions is declining—evidenced by the record-low issuance of coins—the demand for high-value banknotes is being driven by economic uncertainty and, increasingly, the "cultural value" of the currency itself. "The 10,000 won bill is no longer just money; to global fans, it is a piece of Korean art and a memory of their favorite show," said a banking official.
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