This Bloomberg story quotes the central bank's head of the department of reserve management: “'There’s an illusion in gold,' Lee Eung Baek... said in an interview. 'We follow the big trend. Gold isn’t the trend. Out of more than 200 nations, how many countries have bought bullion?'”
Only 0.03% of the South Korean central bank's reserves are held in gold - and it loks like that portion is going to stay miniscule. South Korea ain't China, that's for sure.
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