SEOUL, Jan. 29 (Korea Bizwire) — A surge in global gold prices is prompting South Korean pharmaceutical companies to rethink a long-standing workplace tradition: rewarding long-serving employees with gold. As bullion prices climb to record highs, several drugmakers have begun replacing gold gifts with cash bonuses, citing sharply rising costs. Industry officials said the shift reflects [...]
SEOUL, Nov. 3 (Korea Bizwire) — After a steep rally followed by a sharp correction, global gold prices appear to be stabilizing and preparing for another climb, analysts said Sunday. According to data from the Chicago Mercantile Exchange’s COMEX market, December gold futures closed at $4,013.40 per ounce on October 31, down 0.06 percent from the [...]
SEOUL, July 8 (Korea Bizwire) — With gold prices climbing steadily, South Korean jewelry brands are increasingly turning to lower-karat gold and alternative materials to appeal to younger, cost-conscious consumers. Traditionally dominated by 14K and 18K offerings, the market is seeing a growing presence of more affordable 10K, 9K, and even 5K gold pieces. These [...]
SEOUL, Feb. 4 (Korea Bizwire) — The price of gold in South Korea has reached record highs, prompting significant shifts in consumer behavior and market dynamics. As of February 3, the cost of a single don (3.75 grams) of pure gold stands at 560,000 won ($390), with additional taxes and processing fees pushing the price of [...]