Bank of Korea to Issue Silver Coins Commemorating 30th Anniversary of Nationwide Local Elections

4,000 Coins of Each Type, 8,000 in Total
Reservations Open from July 14 to August 1

The Bank of Korea announced on June 19 that it will issue two types of commemorative coins (silver coins) in August to mark the 30th anniversary of the first nationwide local elections. Since 1995, heads of local governments and members of local councils in South Korea have been elected through resident voting.

The obverse side of the commemorative coins depicts scenes of voting and local council meetings, as well as an administrative district map, to highlight the values of civic participation and local autonomy. The reverse side features an emblem commemorating the 30th anniversary of locally elected governments.

The sales price for each coin is 83,500 won, and the face value is set at 70,000 won. The face value was set at 70,000 won to reflect the rise in international silver prices. The price for the two-coin set is 165,900 won. The total issuance (sales volume) is 4,000 coins of each type, for a total of 8,000 coins.

The coins can be reserved through Korea Minting and Security Printing Corporation, Woori Bank, and NongHyup Bank. Reservations will be accepted from July 14 to August 1, and delivery is scheduled to begin on August 27.