The number of counterfeit South Korean banknotes declined 58.4 percent in 2013 from a year earlier due to increased public awareness and crackdown efforts by authorities, the central bank said Monday.

The number of counterfeit bills reported to the central bank reached 3,585 last year, compared with 8,627 the previous year, according to the Bank of Korea (BOK).

Currently, the 50,000 won ($45) note, first issued in June 2009, is the country‘s highest denomination, followed by 10,000 won, 5,000 won and 1,000 won notes.

The number of fake 50,000 won bills declined 74.5 percent on-year to 84 in 2013, and that of counterfeit 10,000 won notes fell 76 percent to 909, the BOK said.

South Korea issued new versions of the 1,000 won and 10,000 won notes with anti-forgery features in late January 2007 after issuing new 5,000 won bills in early 2006. (Yonhap)