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Gold prices in Korea have surged, nearly doubling over the past year, causing a rush in both gold purchases and sales. Many people are now buying gold as an investment, while others are selling their valuables to take advantage of the high prices.  
In Jongno 3-ga, Seoul’s gold and jewelry district, customers are adjusting their buying habits. A woman in her 30s said she considered buying a gold ring for a friend’s baby but reduced the amount due to the high price. An elderly man buying a ring for his grandchild expressed similar concerns. Jewelry store owners noted that many customers now purchase smaller gold rings, with 1-gram rings costing nearly 200,000 won.  
According to the Korea Exchange, the price of gold hit 163,530 won per gram on February 14, a 90% increase from 86,030 won a year earlier. This surge led to gold bar shortages, with major banks like KB Kookmin Bank suspending sales. Some individuals are selling gold they had stored away, hoping to profit from the price increase or support their household finances.