"2.7 Billion Won Becomes 26.1 Billion Won"... Value of Hampyeong Golden Bat Statue Soars with Gold Price Surge

The Golden Bat Statue in Hampyeong, Once Criticized as a "Waste of Taxpayers' Money,"
Now Hailed as "Hampyeong's Bitcoin" with a Tenfold Surge in Value
A Star Attraction at Local Festivals, Drawing Record Numbers of Visitors

Hampyeong Golden Bat Statue, created in 2008 with an investment of 2.7 billion won. Provided by Hampyeong County

The "Golden Bat Statue" in Hampyeong, Jeollanam-do, which was criticized at the time of its creation as a waste of taxpayers' money, has seen its value surge nearly tenfold due to the rise in gold prices. As a result, some are calling it a more successful investment than stocks, even dubbing it "Hampyeong's Bitcoin."

With the second Donald Trump administration imposing tariffs on countries around the world, economic uncertainty has increased, driving demand for safe-haven assets and sending gold prices soaring. According to the Korea Exchange, as of February 12, the price of gold was 158,870 won per gram. This represents a 23% jump from 128,790 won per gram on January 2. On the same day, the price of silver also rose to 1,489 won per gram, up from 988 won per gram in February last year.

As a result, the value of the Hampyeong Golden Bat Statue, which was created in 2008 with an investment of 2.7 billion won, has soared to 26,155,630,000 won. Based on gold and silver prices on February 10, when gold reached about 167,700 won per gram and silver 1,749 won per gram, the statue's value even peaked at 27,658,860,000 won. This is more than ten times its original value. At the time of its creation, the 2.18-meter-tall, 1.5-meter-wide statue was made with 162 kg of pure gold and 281 kg of silver, costing 2.7 billion won in gold alone. Back then, it was widely criticized as a waste of public funds, but now, with a tenfold return, it is being hailed as a more successful investment than stocks such as Tesla or Nvidia.

The Golden Bat Statue was created to commemorate the discovery of 162 golden bats-a Natural Monument and a critically endangered species-in Hampyeong in 1999. Production began in 2005 and was completed in 2008. At the time, the county governor was Lee Seokhyeong, a former KBS producer. The leftover gold (19.31 kg), silver (8.94 kg), and gemstones (0.19 kg) from the statue's production were used in 2010 to create the "Obokporan," a gold ornament that cost 66 million won to make. Its value has also risen to 3,080,000,000 won.

In March last year, the "Golden Bat Statue," made with 162 kg of pure gold, is being relocated to a new exhibition space at Hampyeong Expo Park in Hampyeong County, Jeollanam-do. Photo by Yonhap News

For the past 16 years, the Golden Bat Statue was only available for viewing during certain periods in the basement of the Golden Bat Ecology Exhibition Hall. However, in April last year, coinciding with the Hampyeong Butterfly Festival, it was relocated to a special exhibition hall on the first floor of the Hampyeong Memory Workshop, where it is now on display year-round. It is reported that moving the statue, which was valued at around 15 billion won at the time, to the Memory Workshop alone cost 500 million won.

The Golden Bat Statue has become a signature tourist attraction, drawing crowds at every festival held in Hampyeong, including the Hampyeong Butterfly Festival and the Gukhyang Grand Festival. Of the 51,599 visitors to last year's Hampyeong Gukhyang Grand Festival, 19,890 visited the Memory Workshop. In comparison, the Butterfly Insect Ecology Center attracted 11,918 visitors, and the Plant Exhibition Hall drew 15,358. The Golden Bat Statue is clearly the most popular. In 2019, there was even a theft attempt targeting the statue; the thieves fled when the alarm went off but were later apprehended.

With the Golden Bat Statue serving both as an investment and a promotional tool for the local government, Hampyeong County officials are unable to hide their delight. The county has also created "Hwangbaki," a character representing its tourism brand and slogan, inspired by the golden bat. Lee Sangik, the governor of Hampyeong County, said, "We are pleased to be able to display Hampyeong's star tourism attraction, the Golden Bat Statue, year-round," adding, "We will continue to develop diverse cultural and tourism content to attract even more visitors."