Gold Price in South Korean Won (KRW) Today
The current gold price in South Korean Won is ₩7,468,192 per troy ounce, or ₩240,108 per gram for 24-karat pure gold. This is calculated from the live XAUUSD spot price of $5,008.30 per ounce using the real-time KRW/USD exchange rate.
22K Gold / Gram
₩220,107
18K Gold / Gram
₩180,081
14K Gold / Gram
₩140,055
Gold Price in South Korean Won — All Karats & Weights
| Weight | 24K (99.9%) | 22K (91.67%) | 18K (75.0%) | 14K (58.33%) |
|---|---|---|---|---|
| 1 Gram | ₩240,108 | ₩220,107 | ₩180,081 | ₩140,055 |
| 5 Grams | ₩1,200,539 | ₩1,100,534 | ₩900,404 | ₩700,274 |
| 10 Grams | ₩2,401,078 | ₩2,201,068 | ₩1,800,808 | ₩1,400,549 |
| 1 Troy Ounce | ₩7,468,192 | ₩6,846,091 | ₩5,601,144 | ₩4,356,196 |
| 50 Grams | ₩12,005,388 | ₩11,005,339 | ₩9,004,041 | ₩7,002,743 |
| 100 Grams | ₩24,010,776 | ₩22,010,678 | ₩18,008,082 | ₩14,005,485 |
| 1 Kilogram | ₩240,107,756 | ₩220,106,780 | ₩180,080,817 | ₩140,054,854 |
| 1 Tola (11.66g) | ₩2,799,656 | ₩2,566,445 | ₩2,099,742 | ₩1,633,040 |
Prices derived from the live XAUUSD spot rate and real-time exchange rates. 1 troy ounce = 31.1035 grams. Updated every 30 seconds.
Gold Market in South Korea
South Korea has a sophisticated gold market centered on the Korea Exchange (KRX), which launched gold trading on its commodity market in 2014, offering a regulated, exchange-traded platform for physical gold investment in Korean won. The KRX gold market allows investors to buy gold from as little as 1 gram through their securities accounts, and physical delivery is available for holdings of 100 grams or more. One of the most significant advantages of KRX gold is its tax treatment: gold purchased and sold through the exchange is exempt from the 10% VAT that applies to over-the-counter gold purchases, and capital gains are not separately taxed when traded through the exchange market. This has driven a dramatic shift from traditional jewelry shops to exchange-based gold investment among Korean investors. The KSPGOLD ETF, listed on KRX, provides another avenue for won-denominated gold exposure. The Bank of Korea holds approximately 104 tonnes of gold reserves, having made several large purchases between 2011 and 2013. South Korea is a significant gold consumer, with demand split between jewelry (heavily influenced by K-fashion trends), investment, and industrial use in the country's massive electronics sector (Samsung, SK Hynix, LG) where gold is used in semiconductor bonding wire and connectors.
How We Calculate Gold Price in KRW
The gold price in South Korean Won is calculated using two live data feeds:
- The XAUUSD spot price — the international gold price per troy ounce in US dollars, sourced from the gold API and refreshed every 30 seconds.
- The KRW/USD exchange rate — sourced from open exchange rate data and cached for 10 minutes.
Gold per ounce (KRW) = XAUUSD spot price × KRW/USD rate
Gold per gram (KRW) = Gold per ounce (KRW) ÷ 31.1035
Example: $5008.30 × 1491.1630 = ₩7,468,192 per ounce
Gold Tax & Duty in South Korea
Gold taxation in South Korea depends critically on the purchase channel. Gold bought through the Korea Exchange (KRX) is exempt from the 10% VAT and is not subject to capital gains tax when traded on the exchange — making it by far the most tax-efficient way to buy gold in Korea. Over-the-counter gold purchases (from jewelry shops, bullion dealers, or online) carry the standard 10% VAT, which significantly impacts investment returns. Capital gains on physical gold sold OTC are generally not separately taxed for individuals (gold is not classified as a financial asset for CGT purposes), but the VAT burden makes OTC purchases uneconomical for investment. Gold savings accounts offered by banks may have different tax treatment for interest/gains. The 10% VAT exemption for KRX gold was specifically designed to formalize the gold market and combat the large informal (VAT-evading) gold trade that previously dominated.
Where to Buy Gold in South Korea
The Korea Exchange (KRX) gold market in Busan is the primary investment gold platform, offering trading in 1g units with the Korea Securities Depository handling settlement and storage. Daily trading volume has grown significantly since launch, as the VAT advantage attracts investors away from informal channels. Jongno (종로) district in Seoul, particularly the area around Jongno 3-ga, is the traditional heart of Korea's gold and jewelry market, with hundreds of shops selling gold jewelry, bars, and coins. The Korea Gold Exchange (a trade association, not to be confused with KRX) represents traditional gold dealers. Major gold refiners in Korea include LS Nikko Copper (LBMA-accredited) and Korea Zinc. Samsung and other electronics giants consume significant quantities of gold for industrial purposes. Korean gold demand patterns differ from other Asian markets — jewelry preferences follow rapidly changing K-fashion trends, and gold investment surges during economic uncertainty (notably during the 1997 Asian Financial Crisis, when Koreans donated an estimated 227 tonnes of personal gold to help pay the nation's IMF bailout — a unique event in gold market history).
Frequently Asked Questions
How do I buy gold VAT-free in South Korea?
The only way to buy gold VAT-free in South Korea is through the Korea Exchange (KRX) gold market. You need a securities account with a KRX member brokerage (e.g., Samsung Securities, KB Securities). Gold is traded in 1-gram units at market prices close to international spot. You can take physical delivery of 100 grams or more, or keep it in book-entry form. Over-the-counter purchases from shops carry a 10% VAT, which makes exchange trading vastly more economical for investment purposes.
What happened during Korea's 1997 gold collection campaign?
During the 1997 Asian Financial Crisis, South Korea faced a severe foreign currency shortage and needed to repay IMF loans. In an unprecedented national movement, millions of Korean citizens voluntarily donated their personal gold — wedding rings, jewelry, medals, and bars — to help the country. An estimated 227 tonnes of gold (worth approximately $2.2 billion at the time) was collected and sold to bolster foreign reserves. This "gold collection campaign" (금 모으기 운동) remains a powerful cultural memory and symbolizes Korean collective solidarity.
What is the KSPGOLD ETF?
KSPGOLD (ticker: 411060) is a gold ETF listed on the Korea Exchange that tracks the international gold price in Korean won terms. It provides exposure to gold without the need for physical storage or delivery. As an exchange-traded product, it benefits from lower transaction costs than physical gold. However, ETF gains may have different tax treatment than KRX physical gold trading — consult a Korean tax advisor for current rules on financial product taxation.
How does gold demand in Korea differ from other Asian markets?
Korean gold demand has several unique characteristics: jewelry demand follows K-fashion trends with more modern, minimalist designs compared to traditional heavy gold jewelry in South or Southeast Asia; investment demand has shifted heavily to exchange-based (KRX) trading due to the VAT advantage; industrial demand is significant due to Korea's massive semiconductor and electronics sector; and cultural attitudes toward gold are shaped by the 1997 gold donation experience. Korea also has a relatively developed gold savings account market through major banks.