Seoul: The number of counterfeit banknotes detected in South Korea saw a significant decrease during the first half of 2026, as the country increasingly adopts cashless transactions, the central bank announced on Wednesday.

According to Yonhap News Agency, a total of 41 counterfeit banknotes were identified in the first six months of the year, marking a 33.9 percent drop from 62 detected in the same period the previous year, as reported by the Bank of Korea (BOK).

The trend of declining counterfeit banknotes has been consistent in recent years, coinciding with a shift towards non-cash payment methods. In fact, the number of counterfeit banknotes fell below 100 annually for the first time in 2025.

The BOK highlighted that South Korea detected approximately 0.6 counterfeit banknotes per 100 million notes in circulation. This figure is notably lower compared to other regions, with Britain reporting 4,229, the eurozone 1,461, Canada 1,411, and Japan 8.6 counterfeit banknotes per 100 million notes.