Big note to make wallets smaller in South Korea

SEOUL: South Korea yesterday issued its first high-denomination banknote in 36 years, ending an era of bulging wallets and raising hopes among retailers that consumers may be enticed to spend more.

The 50,000-won ($39) bill is the highest-value note since the 10,000-won bill was issued in 1973.

It is also the first to carry the portrait of a woman, in what one newspaper called a sign of greater gender equality in a formerly male-dominated society.