Korea Minting, Security Printing & ID Card Operating Corporation Holds Seminar to Revitalize MINT Product Distribution Market

Limited Distribution Market Focused on Small-Scale Collectors in Domestic Market...Need to Overcome Limitations

The seminar was attended by Sung Chang-hoon, President of the Korea Minting and Security Printing Corporation, Lee Je-cheol, President of Poongsan Hwadong Yanghaeng Co., Ltd., Dr. Yoo Seul-gi from the Korea Institute for Industrial Economics and Trade, and Han Chang-joo, CEO of Oseong K&C. / Photo by Korea Minting and Security Printing Corporation

The Korea Minting, Security Printing & ID Card Operating Corporation held a seminar on the 21st at the Orotdeum Hall in Seoul as part of its research on artistic coins, focusing on revitalizing the distribution market for MINT products.

MINT products refer to items such as commemorative coins, artistic coins, commemorative medals, orders, and gold bars, which use special embossing technology on metal materials to engrave designs that reflect commemorative, symbolic, and artistic qualities.

The seminar was held to explore ways to revitalize the currently limited distribution market, which is mainly formed by small-scale collectors, through cooperation between the corporation and the private sector, and to create a new distribution ecosystem in preparation for the future introduction of artistic coins domestically.

Jeon Min-jae, CEO of Today Co., Ltd., which operates the largest gold and silver coin investment shopping mall in Korea, explained through a presentation on overseas distribution market cases that “the reason for the activation of overseas distribution markets lies in a systematic consignment sales system centered on official dealers by country and region.” Overseas mints do not sell artistic coins directly but form a ‘two-way market’ by selling and repurchasing through official dealers called Authorized Purchasers to wholesalers, financial institutions, and other retailers.

President Sung Chang-hoon emphasized, “The Mint is the only institution in Korea that manufactures, supplies, and sells MINT products,” adding, “To expand the market, strengthening the distribution market is necessary, and it is important to establish an industrial ecosystem covering the entire process from production and distribution to export in preparation for the future introduction of artistic coins domestically.”