Vending machines in Seoul, South Korea, are revolutionizing the traditional concept of buying gold by offering gold bars in various sizes. Situated within convenience stores throughout the affluent Gangnam district and other areas, these machines meet the growing demand for micro-investments among South Koreans. Available in sizes as small as 0.5 grams and priced at approximately 88,000 won ($64), the bars’ prices are adjusted daily to align with global market trends. This innovative approach was initiated by GS Retail Co. and has since expanded to 30 locations across the nation. The service taps into the surging gold prices, which recently reached over $2,400 per ounce. The rise in popularity of these gold vending machines has also spurred local online banks to offer gold purchasing options through their apps, catering to the robust demand for this traditional safe haven asset amidst prevailing economic uncertainties.
Gold Rush Hits Seoul Streets: Gold Bars Now Sold in Vending Machines
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
