Many Koreans go to sea to find gold as gold prices soar

When the beaches are closed, many Koreans flock to the beaches to search for gold, picking up gold jewelry dropped by tourists.

A man carries a metal detector to pan for gold on a beach in Gangwon Province, northeastern South Korea - Photo: KBS NEWS

Recently, public opinion in South Korea has focused on a man carrying a metal detector wandering along a beach in Gangneung city, Gangwon province, northeastern Korea, looking for gold.

Occasionally, this person uses a metal mesh to sift through the sand, hoping to find gold mixed in with the beach sand.

In fact, according to Yonhap News Agency, at the end of each summer, when beaches begin to close, many Koreans often flock to search for and collect gold jewelry that tourists have dropped while playing and swimming in the sea.

Metal detectors can detect many metals such as gold, silver jewelry, coins, ...

However, the fact that a man went to the beach to pan for gold when winter was still not over surprised the Korean public.

Netizens in this country believe that this man may have gone to sea to look for gold in the middle of winter because the price of gold in this country continues to rise.

Local police, however, are warning people who plan to go to the beach to look for gold to be cautious. In the past, a man was accused of theft after finding a gold ring on the beach and selling it to someone else.

In February this year, domestic gold prices in South Korea increased by more than 20% compared to international gold prices for the first time, amid high demand for this precious metal.

According to the Korea Exchange (KRX), the price of gold in Korea hit an all-time high on February 14, reaching 168,500 won/gram (nearly 218 USD).

The Korea Mint and Security Printing Corporation (KOMSCO) and the Korean Gold Exchange have suspended sales of gold bars since February this year.

Regarding the reason for temporarily suspending the sale of gold bars, KOMSCO explained that the company is having difficulty in purchasing raw gold materials.

Recently, South Korean people have rushed to buy gold to store, due to concerns about political instability after President Yoon Suk Yeol declared martial law in December 2024.

Besides, Korean people are also concerned about economic instability due to the impact of US tariff policy.

Source: https://tuoitre.vn/nhieu-nguoi-han-quoc-ra-bien-tim-vang-khi-gia-vang-tang-cao-20250312143448109.htm