The 50,000 won ($40) bill, now Korea’s largest-denominated bank note, started circulating June 23, to high expectations. But the bills do not seem to be in active use yet.

The Bank of Korea said it made the decision to issue the new bill because it concluded the 10,000 won bill, previously Korea’s largest, was inadequate given the demands of the country’s developed economy.Circulation of the new banknotes is gradually increasing, with BOK data showing about 4.93 trillion won worth of the bills had been issued as of Friday, while 24.5 trillion won in 10,000-won bills were in use as of late July.

“Not many 50,000 won bills are being used here,” said Kwon Mi-ran, a cashier at an E-Mart discount store. “A cashier gets about two to three 50,000 won bills a day on average. People mostly use credit cards whenever the amount is over 1,000 won.” Kwon added that her customers use credit cards about 70 percent of the time.

Not many ATMs are able to provide the new 50,000 won bills, with renovations proving expensive for banks. The bills are also spreading slowly so as to prevent inflation.

“I have used some 50,000 won bills and I’m always careful not to confuse them with 5,000 won bills. The colors are very similar, so I have the two separated in my wallet,” said Lee Eun-joo, a housewife in Anyang. “I’m also afraid of losing the bills sometimes. You can track down a lost personal check or cancel a credit card, but lost bills are just lost.”

MBC News even quoted a Seoul police detective who said the number of pickpockets has increased as criminals stalk users of the larger bills.

Another problem involves hoarding, with many people keeping the bills as souvenirs.

“I actually have one, but I am keeping it in my purse. It would be useful to buy something expensive with cash, but when I try to buy some 1,000 won products, the change from that big a bill would be overwhelming,” said Noh Eun-kyung, a shopper at a Lotte Mart branch who said she usually uses a credit card to pay larger sums.

“I’m also worried about having to give 50,000 won bills to my nephews on holidays. I’m afraid they will think 10,000 won is too little, with that not being the largest denomination bill anymore,” said Noh.

“The new bills will have spread further by the end of this year and around national holidays like New Year’s Day,” predicted Moon Kyung-sun, a manager at Kookmin Bank’s Dunsan-Seosan branch in Daejeon.

This article was written with the assistance of staff reporters Moon So-young and Jung Ha-won.