Seoul: A total of 48 counterfeit banknotes were detected in South Korea during the first half of 2025 amid a continued shift toward non-cash transactions, the central bank said Friday. The figure remained unchanged from the same period last year, when it hit an all-time low.

According to Yonhap News Agency, the total face value of the counterfeit notes rose slightly to 787,000 won (US$572.4), up 102,000 won from a year earlier, due to an increase in counterfeit 50,000-won notes, which rose from eight to 11. The 50,000-won bill is the largest-denomination banknote in South Korea.

The rate of counterfeit detection was notably low. Only 0.7 counterfeit banknotes were detected per 10 million in circulation in South Korea, compared to 1,977 in Britain, 1,866 in the eurozone, 757 in Canada, and 16.5 in Japan, according to the BOK.

"The low rate is attributable to a growing preference for non-cash payment methods in face-to-face transactions and improved public awareness and ability to detect counterfeit bills," a BOK official said.