đ°đ· 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:
đȘ 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.
đ Customs like dolbanji baby-birthday gold rings (â3.75 g) and gold wedding gifts (yemul) are being scaled back or replaced with cash due to high costs.
đą 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 â a sign of how commodity inflation can ripple into everyday life.
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