Discovered in Sapaesan Tunnel, Uijeongbu on December 26 Last Year
Valued at 100 Million Won... Ownership Transfers to Finder After Six Months
A gold bracelet worth approximately 100 million won was found in the Sapaesan Tunnel in Uijeongbu, Gyeonggi Province, and the police are searching for its owner.
According to the Uijeongbu Police Station on January 29, a man found a gold bracelet in the Sapaesan Tunnel in Uijeongbu City on December 26 last year and reported it to the police.
The bracelet is said to weigh 100 don (375g) of gold. Based on the Korea Exchange price on this day, its value exceeds 100 million won.
The police checked for any lost property reports to find the owner of the gold bracelet. However, no such reports have been filed so far. There is also no evidence linking the item to any crime.
According to Article 11 of the Enforcement Decree of the Lost Articles Act, if the rightful owner does not claim the lost item within six months of its receipt, ownership is transferred to the finder. If the finder does not retrieve the item or waives ownership within three months after this period, it becomes state property.
Meanwhile, on January 29 Eastern Standard Time, the international gold price surpassed $5,500 per ounce for the first time in history before retreating. At around 1:30 p.m. EST, spot gold was trading at $5,330.20 per ounce, down 1.3% from the previous session.
As a safe-haven asset, demand for gold increases when geopolitical or market volatility rises. Recently, concerns about the Federal Reserve's independence being undermined and U.S. President Donald Trump's attempt to annex Greenland have fueled worries about declining trust in dollar-denominated assets, driving up gold prices. In addition, escalating geopolitical tensions surrounding Iran, such as the United States demanding Iran abandon its nuclear development program, have also contributed to the rise in gold prices.
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