A coin posted on Japanese social media. Below the 500 yen coin, a Korean 500 won coin is mixed in. X @kmaosghii
[Financial News] There is controversy in Japan as incidents of using Korean 500 won coins instead of 500 yen (about 4500 KRW) coins continue to occur.
According to a report by Japan’s TV Asahi on the 21st, a bathhouse in Tokyo recently posted a picture on its social media account showing a Korean 500 won coin among 500 yen coins.
This bathhouse only accepts cash, and the situation arose when a customer presented a Korean 500 won coin, similar to a 500 yen coin, instead of the latter.
The bathhouse owner said, “I was counting the 500 yen coins and was surprised to find an unfamiliar coin,” and added, “I didn’t know it was Korean currency. It really looks like a 500 yen coin. Customers might not notice if it’s given. I checked and it was around 50 yen, which was disappointing,” he criticized.
In fact, both the Japanese 500 yen and Korean 500 won coins have a diameter of 26.5 mm. The 500 won weighs 7.7 g, whereas the older 500 yen coin weighs 7.0 g.
Previously, there were also issues with Japanese vending machines identifying 500 won coins as 500 yen. Under these circumstances, Japanese police confiscated 14,000 500 won coins in 1997.
In an effort to match the slight weight difference, some used tools to insert coins into vending machines. To address these problems, the Japan Mint changed the material and issued a new series in 2000.
Because of such incidents, the 500 won coin is frequently cited by anti-Korean factions to disparage Korea. There are also fake news stories inciting ideas that “Korea broke its promise to design its 500 won coin differently from Japan’s.”
Meanwhile, in Japan, being caught using a 500 won coin secretly can lead to punishment. Intentionally giving it to a person can result in fraud charges, and using it in machines like vending machines can constitute theft. If the incident is witnessed and reported to the police, it can lead to fraud charges.