Ten-Won Coin Counterfeiting Controversy Disappears, Bank of Korea "Permits Use of Design for Commercial Purposes"

Ten-Won Bread

The Bank of Korea announced on the 29th that it will revise the "Standards for the Use of Designs of Bank of Korea Notes and Coins" to allow the use of currency designs for commercial purposes, effective from next month.

The Bank explained that it will remove the clause prohibiting the use of currency designs for commercial purposes from the existing standards to support the public's creative economic activities and revitalize the grassroots economy.

The background of this decision is interpreted to be related to last year's controversy over the unauthorized use of currency designs in the Gyeongju Sipwon Bread. Sipwon Bread is a bread modeled after the design of the 10-won coin. Since the Bank of Korea did not allow the use of currency designs for commercial purposes, it had requested the manufacturer of Sipwon Bread to change the design.

There were criticisms from the political circles that this measure was an excessive regulation, and it is understood that the Bank of Korea accepted this and changed the regulations.

However, the Bank emphasized that it will not allow inappropriate use of designs that promote counterfeiting or undermine the dignity and reliability of currency, regardless of whether the use is for commercial purposes.

Typical examples include using currency designs in advertisements via printers or copiers, or using materials and sizes similar to actual banknotes.

Using figures separately from the currency design or altering the design figures in a way that differs from their original appearance are also subject to regulation.

This content was produced with the assistance of AI translation services.