Bread mimicking S.Korean penny embroiled in design theft controversy

The Bank of Korea (BOK) has announced that it is in talks with companies to change the design of the “Gyeongju 10 won bread,” which recently came under fire for unauthorized use of a currency design. BOK is going to prevent the unauthorized use of the design for commercial purposes, but to allow companies to continue selling local tourism products.

"BOK is using the standards for the use of numismatic designs to ensure the sound use of numismatic designs, and does not allow the use of numismatic designs for commercial purposes," BOK said in a statement on Wednesday. According to BOK, in order to use a monetary design, it is necessary to meet the usage standards.

BOK only allows the use of currency imitations used for educational, research, reporting and judicial purposes, as well as printed materials such as books, newspapers and magazines, and illustrations inserted into e-books. There are also detailed conditions, such as imitations must be made at a size of 50% or less or 200% or more, and illustrations must be one-sided.

Use for commercial purposes is essentially prohibited. "If the reckless misuse of currency designs for commercial purposes spreads in society, it may disrupt the currency circulation system, which is the backbone of the country, by promoting counterfeiting and diminishing the dignity and credibility of money," BOK explained. 

BOK has been actively responding to cases where companies have used banknotes without being aware of such usage standards in advance by providing guidance on the standards, and said it is also consulting with the 10 won bread makers. In the case of the buns, the bakers explained that they are in talks to change the design within the legal scope so that they can continue their sales business as they have been established as a local tourism product. BOK added that there are no plans to take legal action at this time.

"We plan to provide necessary guidance to companies that unintentionally violate the usage standards and strive to ensure that people can use the currency designs in a desirable way," sadi BOK official.

Some bakers have changed their designs and are still in business. Sungbukdang, a seller of 10 won buns, said it was selling them after removing "The Bank of Korea" from the design and replacing it with "The Bread of Sungbukdang," which includes the company's name.

Write to Jin-gyu Kang at Josep@hankyung.com