http://news.bbc.co.uk/2/hi/asia-pacific/8394987.stm
That means each adult can exchange about US$740-worth (£445) of won.
Many residents are reported to have reacted with anger and panic because any cash held above that figure will be worthless - effectively wiping out people's savings.
He said officials want to destroy the newly-emerging middle class, many of whom have made money trading in the free markets.
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