traditions

🇰🇷 Soaring Gold Prices Push South Koreans to Ditch Traditional Gifts

Rapidly rising gold prices are prompting cultural shifts in South Korea as long-held traditions tied to gold jewellery become economically burdensome for families and companies.

Key Facts:
🪙 The gold price in South Korea is about 245,000 won per gram, roughly 80% higher than a year ago, driving up the cost of traditional gold gifts.

🎁 Customs like dolbanji baby-birthday gold rings (≈3.75 g) and gold wedding gifts (yemul) are being scaled back or replaced with cash due to high costs.

🏢 Even corporate gift practices (gold tokens for long service) are being discontinued in favor of cash alternatives.

Expert Insight:
Soaring bullion prices are reshaping not just markets but social rituals, turning gold from a traditional gift into a luxury many now avoid — a sign of how commodity inflation can ripple into everyday life.

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