South Korea to Expand Gold Reserves via Domestic Buying Program

South Korea will launch a domestic gold buying program aimed at expanding its official reserves. The initiative underscores the ongoing trend of heightened central bank demand for the precious metal.

Net central bank gold purchases averaged 473 tonnes annually between 2010 and 2021. Over the past four years, that figure has roughly doubled to nearly 1,000 tonnes per year, reflecting a structural shift in reserve management.

The Korean program marks one of the latest efforts by a major economy to boost gold holdings domestically, reducing reliance on foreign supply chains. No specific purchase size or timeline was disclosed.