Soaring Gold Prices Drive Demand for 'Kongalgum'
Rush for Mini Gold as Gold Bar Trading Halts
Variety of Shapes Makes Collecting Enjoyable
Stored in Glass Bottles, Popular as Gifts
As the second term of the Donald Trump administration imposes tariffs on various countries overseas, economic uncertainty is increasing, causing the price of gold, a representative safe-haven asset, to soar. In this context, 'Kongalgum,' a small-weight gold product that can be invested in without burden even with a small amount, is gaining attention as a new financial technology tool.
According to the precious metals industry on the 17th, along with the surge in gold prices, demand for Kongalgum, a low-weight pure gold product, is also rapidly increasing. Especially recently, as a shortage of gold bars has occurred, making it difficult to secure physical gold itself, more consumers are flocking to Kongalgum.
Kongalgum refers to low-weight gold ranging from 0.5g to one don (3.75g). Because of its small size, the price burden is low. A one-don piece is sold for about 670,000 won, and a half-don piece for 300,000 won. It is mainly traded online, making purchasing convenient.
Unlike gold bars, Kongalgum is not large or heavy, making it easy to store, and its cute shape adds the joy of collecting. In addition to the 'Kongal' (bean) shape, designs vary from nugget-shaped 'Makgeum' to hearts, acorns, goose eggs, seeds, stars, golf balls, lucky pouches, and four-leaf clovers. Most Kongalgum pieces are collected in small glass bottles, where the sparkling gold is not only visually beautiful but also serves as motivation to pursue goals. Many people also gift accumulated Kongalgum to their partners or children.
An online shopping mall announced that the Kongalgum group purchase, originally scheduled for 4 hours, will be closed within 30 minutes due to overwhelming orders. 'Bante' Instagram
However, as the gold shortage continues, purchasing Kongalgum is not easy. Kongalgum is sold out on various online shopping malls, and posts related to Kongalgum purchases are appearing on various online communities. Recently, one online shopping mall issued an urgent notice that a scheduled four-hour group purchase of Kongalgum was expected to close within 30 minutes due to a surge in orders.
On local community sites, posts such as "I wanted to give it to my boyfriend for Valentine's Day, but there was nowhere to buy it," "I bought gold for the first time in my life," "Kongalgum is the best. It costs less in crafting fees than rings and fetches a higher price when resold," "Because it sparkles, it's good for interior decoration and touching it can strengthen resolve," "If there is stock, definitely buy it," "Today is the cheapest," and "Buying gold for children is the best compared to other events" continue to appear.
Meanwhile, since the beginning of this month, the price of gold has nearly doubled compared to last year, approaching $3,000 per ounce. According to the Korea Exchange, on the 11th, the price per gram of a 100g gold bar was 156,230 won, marking the highest level since the gold market opened in 2014. As domestic investment enthusiasm overheated, the gap with international gold prices widened to around 20%.
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