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, coinciding with record-high gold prices.
On February 11, the Korea Precious Metals Retailers Association reported that jewelry store owners in South Gyeongsang Province have been sharing descriptions of suspects involved in a robbery in Changwon’s Seongsan district via social media. They have issued their own theft advisory, warning that the suspect has not yet been apprehended, urging continuous vigilance.
Store owners are particularly concerned as the theft occurred during a surge in gold prices, which have reached new highs amid 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, like during the COVID-19 pandemic, there were waves of jewelry store thefts,” said a representative from the Masan branch of the Korea Precious Metals Retailers Association. “With recent incidents, store owners are on high alert to prevent further thefts.”
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