While the price of gold continues to soar day after day, a recent theft of tens of millions of won worth of precious metals occurred at a gold and silver store in Changwon, Gyeongsangnam-do, raising concerns about similar crimes among gold store owners. (Image courtesy of Yonhap)
CHANGWON, Feb. 12 (Korea Bizwire) — Jewelry store owners in South Korea’s Changwon region are on high alert following a recent theft of millions of won worth of precious metals, amid record-high gold prices.
According to the Korea Precious Metals Retailers Association on February 11, jewelry store owners in South Gyeongsang Province are sharing descriptions of suspects from a recent robbery in Changwon’s Seongsan district through social media. They have issued their own theft advisory, circulating text messages warning that the perpetrator has not yet been arrested, so constant vigilance is necessary.
Store owners are particularly concerned as the theft comes at a time when gold prices have surged significantly during the economic downturn. Gold prices exceeded 590,000 won per don (3.75g) during morning trading on the Korea Exchange.
“During previous gold price spikes, such as during the COVID-19 pandemic, we saw waves of jewelry store thefts,” said a representative from the Masan branch of the Korea Precious Metals Retailers Association. “With recent incidents occurring, store owners are staying vigilant against theft.”
The latest incident occurred on February 9 in central Changwon, when a masked man wearing gloves and a hat entered a jewelry store posing as a customer. After asking to see various items, he reportedly stole 30 million won worth of jewelry, including gold bracelets, while the employee was momentarily distracted.
Police are currently tracking the suspect. In a related incident last month, police arrested a man in his 20s for stealing a gold necklace from a jewelry store in Busan’s Busanjin district, highlighting a pattern of recent targeting of jewelry stores.
A law enforcement official in Changwon stated that local police plan to strengthen crime prevention activities to protect jewelry store owners, urging continued vigilance against theft.
Ashley Song (ashley@koreabizwire.com)
