Bank of Korea said to buy 1 ton of gold in December

Wed Sep 30 2026

South Korea's Bank of Korea (BOK) plans to make its first physical gold purchase since 2013 and buy one ton of domestically produced gold in December, South Korean media outlet MoneyToday reported on Wednesday.

The South Korean central bank announced back in August that it created a collaborative system with the Korea Exchange (KRX), the Korea Securities Depository (KSD), and one of the two biggest South Korean metal smelters, LS MnM. Korea Zinc, in order to make over-the-counter purchases of a portion of the gold that is not consumed domestically and that is intended for export.

According to the World Gold Council, the Bank of Korea held 104.4 tons of gold in its reserves following its latest purchases 13 years ago under the central bank's former governor, Kim Choong-soo.

Source: https://breakingthenews.net