The Bank of Korea (BOK) announced Thursday that for the first time in its history the number of coins returned to the bank has exceeded the number issued, to reach a total value of 17.2 billion won. Previously the number of coins issued was 10 times greater than that of coins returned as people chose to keep them in jars or piggy banks at home. However the figure started to reverse itself with the beginning of economic difficulty last November and has continued ever since until February 17, when the number of coins returned to the bank since January 1 was 1.62 times than that of all the coins returned in 1997.

One cause of the phenomenon is that city bus rates recently rose from 430 to 500 won and luxury buses 850 to 1,000 won, eliminating the need for 10 won coins. However slow business in shops and markets has also contributed to the build of coins at the bank.

This has created trouble for BOK as clerks can't efficiently count the coins and they are more difficult to store than bills. Thus the bank announced it is proceeding on a plan to reduce the number of returned coins by 9.7%, and is studying another reduction plan for an additional 10.7%. The cost of manufacturing the 10, 100, and 500 won coins is 35 won, 58 won, and 77 won respectively.