News in Brief

Korea Develops New Solutions from Old Banknotes

The Korea Minting, Security Printing & ID Card Operating Corporation (KOMSCO) held a ‘Currency By-Product Utilisation Seminar’ earlier this month to launch its new venture to reuse currency by-products slated for disposal – both end-of-life banknotes and waste from production. Around 500 tonnes are generated annually, of which 90% is incinerated.

KOMSCO has been researching eco-friendly recycling methods for this waste since the beginning of the year, and at the seminar showcased some of the products it has come up with, including money calendars, money cushions, and money pens. It plans to sell these goods via both B2B and B2C channels.

The seminar also featured a presentation on the Money Dream campaign launched by Hana Bank, one of Korea’s largest banks, to create products such as pillows, cushions and ‘money seeds’ from recycled banknotes (see CN January 2023).

The objective was to increase its digital presence and give customers ‘wealth energy’ by handing out the ecofriendly pillows, the stuffing of which was made with banknote waste. The campaign received global acclaim and multiple design and ESG awards.