Korea Mint Sees Surge in Gold Bar Sales Amid Rising Prices

Korea Mint saw significant sales growth last year, largely driven by gold bars. The company's total sales reached 638.7 billion won, a 26.2% increase from the previous year. Gold bar-related sales accounted for 56.4% of this growth, totaling 74.8 billion won.

The surge in gold prices contributed to the Mint's expansion into gold bars. Last year, gold prices reached an all-time high of $5,595 per ounce in January and maintained a strong price throughout the year. Although gold prices have declined slightly this year, they are currently trading around $4,600 per ounce.

The increase in gold bar sales is notable compared to other products, with coin sales declining by less than half in four years due to a steady decline. The banking sector also saw a gradual decline after peaking at 116.5 billion won in sales in 2021, before rebounding again last year.