Gold vending machines are gaining popularity in Korea (5 photos)

Vending machines are on the rise in South Korea where you can buy gold bars. These machines are located in local chain of convenience stores: according to management, for the last nine months of sales have brought them $19 million.





In the convenience stores of the large GS Retail chain in South In Korea, there are more and more vending machines selling gold bars. Gold vending machines have been installed in Korean stores since September 2022 — and since then, demand has grown relentlessly. Now at company has 10 thousand stores across the country, and 29 of them have "golden" vending machines. Over the past nine months, as told business executives, gold sales brought in $19 million.



The weight of ingots from machines varies from 3.6 grams to 37 grams. Prices change daily depending on the value of gold on international market. Most often, buyers purchase bars weighing 3.6 grams, the cost of which is approximately 225 dollars. In the plans store chains - soon to increase the number of retail stores vending machines from 29 to 50.





The average age of bullion buyers is 20-30 years. More often they view gold as a safe investment vehicle, especially in difficult economic times. In addition, in March 2023, gold rose sharply due to the crisis in the banking sector. According to Korean professor Inha Lee Eun-hee, gold bars in round-the-clock stores have become so popular due to their availability, as well as because of the current economic situation.