Bank of Korea Reenters Gold Market After 13-Year Absence
The Bank of Korea has resumed buying gold after a 13-year hiatus, marking a strategic shift in its reserve management strategy.
The central bank began purchasing overseas-listed spot gold exchange-traded funds (ETFs) during the second quarter of 2026, while simultaneously establishing a framework to acquire domestically produced gold in the coming months.
According to Director General Jung Hee-sup, the BOK has started buying spot gold ETFs on a small scale, providing additional exposure to the metal as part of its reserve management strategy.
The move represents the first expansion of the BOK's gold exposure since 2013, when it last added physical bullion to its reserves. The bank's current gold holdings amount to 104.4 metric tons, representing approximately 1.1% of South Korea's foreign exchange reserves.