The largest chain of convenience stores in the country, CU, collaborated with Korea Minting and Security Printing Corporation (KOMSCO) to offer customers the original product, reports CNBC, quoted by News.ro.
A variety of fingernail-sized gold bars, weighing between 0.1 grams and 1.87 grams, were put up for sale at CU starting in April.
A 1.87-gram ingot sells for 225,000 won ($165.76), and a 0.5-gram one sells for 77,000 won.
Priced at 113,000 won each, the 1-gram ingots sold out in two days, according to local news.
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The ingots come with greeting messages, birthday wishes and even designs for personality types.
People in their 30s were the most active in purchasing these gold bars, accounting for over 41% of total sales since the products were launched.
Those aged 40 represent 35.2% of sales, followed by those aged 50 with 15.6%. People aged 20 represented 6.8% of total sales.
Other convenience stores are also riding the bullion demand wave. As a result, a chain of stores provides customers with small gold bars from vending machines.
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“Usually in times of economic uncertainty, when the local currency depreciates, demand for physical gold jewelry increases as domestic investors look for safe haven asset investments,” said Heng Koon How, head of markets strategy, global economy and market research at UOB.
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Gold prices rose to a record 456,000 won ($335.3) per 3.75 grams, or 0.13 ounces, according to the Korea Gold Exchange. In contrast, the Korean won has depreciated by more than 5% against the US dollar this year, currently trading at 1,358.7 units to 1 dollar.
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