[Asia Economy Reporter Jang Hyowon] Korea Gold Exchange, a subsidiary of ITCEN (CEO Park Jeongjae), announced on the 24th that it has recorded its highest-ever performance.
Korea Gold Exchange's sales in the fourth quarter of 2021 exceeded 700 billion KRW, an increase of more than 40% compared to the previous year, achieving the highest record ever. Riding on this momentum, it is expected to achieve the highest performance in history for 2021. This is due to the rise in gold prices and continued interest in safe assets. Additionally, as the war between Russia and Ukraine becomes more visible recently, demand for gold, a safe asset for individual investors, is expected to increase further.
Since the beginning of this year, the average daily gold trading volume has increased significantly. According to Korea Gold Exchange, the sales volume of its gold bars distributed through commercial banks in January this year increased by 160% to 85KG, and the home shopping sector achieved sales of 230% compared to the same period last year.
The transaction amount on the mobile platform 'Sengold' operated by Korea Gold Exchange also reached an all-time high. Last year, Sengold surpassed 550,000 new members, and the current cumulative membership has exceeded 600,000. As the number of new members increased, trading volumes of gold, silver, and other metals have been very active, with the cumulative transaction amount in 2021 exceeding 100 billion KRW.
Sengold is a service operated by Korea Gold Exchange that provides physical asset investment services centered on precious metals such as gold, silver, platinum, and palladium. It allows trading in units of 1/10,000 grams, and a major advantage is that various points or gift certificates such as OK Cashback, Hana Financial Group's integrated points Hana Money, and Happy Money cultural gift certificates can be charged like cash for investment.
Song Jonggil, Executive Director of Korea Gold Exchange, stated, "Due to unstable international situations such as the recent Ukraine crisis and the US January consumer price index being announced higher than expected, global inflation concerns continue. While steadily expanding partnership services, adding new trading assets, and promoting trading enhancement promotions, gold trading, a representative safe asset, is actively increasing among individual investors through platforms like Sengold and Geumbanggeumbang, brightening the outlook for gold trading."
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