[Report] Is There an 86 Million Won Bench at the Bank of Korea Currency Museum?

"You are now looking at a bench worth 86 million won."

On the 7th, at the Bank of Korea Currency Museum tour site, the docent's words about the "86 million won bench" caught the reporters' attention. However, this does not mean the bench itself costs 86 million won. The transparent bench is filled with powdered money made from 19 kg of 5,000 won bills, amounting to 86 million won in value. These are shredded unusable old bills repurposed into powder. It is a kind of 'banknote upcycling.' Such benches can be found throughout the Currency Museum.

The Currency Museum can be said to be the place where the general public can see the largest amount of money in Korea. From Sangpyeong Tongbo coins that spurred commercial and industrial development during the Joseon Dynasty, to the first money issued by the Bank of Korea, and the currently circulating currency, all can be seen here. Not only Korean currency but also North Korean banknotes featuring former Chairman Kim Il-sung and currencies from around the world are collected.

On the first floor Currency Plaza, visible immediately upon entering the museum, a large amount of currency can also be seen. This is because the 'Coin Pyramid,' which stacks eight types of official coins, is on display. It even includes the 1 won and 5 won coins, which are practically no longer issued. The pyramid contains a total of 4,400 coins, valued at 725,000 won. On the second floor, the 'Model Vault' resembles a scene from a vault robbery movie. It stacks bills from 1,000 won to 50,000 won up to a person's height, mixing real and fake money.

Money pyramid placed in the Currency Plaza on the 1st floor of the Bank of Korea Currency Museum.

Opened on June 12, 2001, the Currency Museum was originally the building of the Joseon Bank (朝鮮銀行), established by Japan in the 1910s. Later, in June 1950, when the Bank of Korea became the central bank of the Republic of Korea, this building served as the head office until the current main building was constructed. The museum is housed in a Western-style stone building standing in front of the towering main building, adding a majestic feel. Docent Park Chaeyoung explained, "At the time of construction, Renaissance-style architectural methods were used to create a large-scale structure."

The cornerstone of the building bears an inscription known to be written by It? Hirobumi, showing traces of Japan's financial intrusion, and bullet holes on the exterior walls remain as evidence of surviving the Korean War. This is why it was designated as Historic Site No. 280 in 1981. Every year, new Bank of Korea employees visit this museum for historical education before their initial assignments.

Climbing the stairs along the wall inscribed with the Bank of Korea's history on the first floor leads to the 'Bank of Korea Memorial Hall,' where an exhibition room recreates the old governor's office. This office was used by the Bank of Korea governors until they moved to the newly built main building in 1987. Portraits, biographies, and materials of past governors are displayed. Behind the governor's seat, a large sign reads "Stability of Currency Value." Next to the governor's office is a space recreating the first meeting of the Monetary Policy Committee. On the wall, a painting depicts the scene of the first meeting held on June 5, 1950.

A space recreating the scene of the first Financial Monetary Committee meeting held in 1950.

The Currency Museum, located in the heart of the city, serves as a cultural space where office workers nearby can take a short break during their busy day. While free admission without reservation is allowed on weekdays, advance reservation is mandatory on weekends and holidays.

Until 2019, the Currency Museum attracted over 200,000 visitors annually, but during the COVID-19 pandemic in 2020, the number dropped to the 20,000s, and in 2021 to the 30,000s. However, last year about 120,000 people visited, and this year, 90,000 visitors came in the first half alone, showing a gradual recovery in visitor numbers. According to the Bank of Korea, the cumulative number of visitors since the museum's opening in 2001 is 3,276,036. Seol Beomyoung, head of the Currency Museum team, said, "Since the pandemic, with the resumption of special exhibitions and normal operations, the number of foreign tourists has also significantly increased."