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New Coin To Defeat Fraud

Date Posted: 2000-07-14

A new •500 coin will go into circulation from August. 1. The new coin is designed to make it more difficult to misuse by organized criminals targeting the nationís vending machines. The old •500 coin has been the favorite of organized gangs robbing vending machines, because it is exactly the same size as Korean •500 won coin that has a value of only about •10. Initially, 200 million coins will go into circulation. The number of the new •500 coins in circulation will increase to 2.5 billion by the end of the year.

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