Bank of Korea Gold Reserves
Bank of Korea gold reserves explained: latest IMF IFS holdings figure, 10-year accumulation trend, peer comparison vs global central banks, policy rationale. Updated 2026-06-03.
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As of November 2023, the Bank of Korea held approximately 104.4 tonnes of gold. This positions South Korea among the top 30 central bank gold holders globally, according to the latest data from the World Gold Council.
KRWKey Facts
- Institution
- Bank of Korea
- Country
- South Korea
- Currency
- KRW
- Rate cadence
- Every 6 weeks
- Reserve data source
- IMF International Financial Statistics
- Last refresh
- 2026-06-03
What this means
The Bank of Korea maintains a significant gold reserve, ranking among the top central banks worldwide. While specific tonnage fluctuates, its strategic holdings contribute to financial stability and diversification.
South Korea's gold accumulation has been gradual, with notable purchases occurring in the early 2010s. This reflects a long-term strategy to bolster its foreign exchange reserves beyond traditional currency assets.
The rationale behind the Bank of Korea's gold holdings includes hedging against inflation, diversifying its reserve portfolio, and enhancing its credibility as a major economy. Gold acts as a safe-haven asset.
Current Gold Holdings. The Bank of Korea's official gold reserves stand at approximately 104.4 tonnes. This amount represents a small but strategically important fraction of its total foreign exchange reserves, providing a crucial hedge against currency volatility.
Reserve Composition and Share. Gold constitutes a modest percentage of the Bank of Korea's overall foreign reserves, typically below 2%. This conservative allocation allows for diversification without over-reliance on a single, non-yielding asset.
Recent Reserve Activity. While the Bank of Korea's gold reserves have been relatively stable in recent years, its last significant acquisition phase was observed between 2011 and 2013. No major changes have been reported since then.
Frequently Asked Questions
What is the Bank of Korea's policy on gold reserves?
The Bank of Korea views gold as a strategic asset for diversifying foreign exchange reserves, hedging against inflation, and maintaining financial stability. Its policy involves holding a modest but significant portion of gold.Does the Bank of Korea plan to increase its gold holdings?
While specific future plans are not publicly detailed, the Bank of Korea periodically reviews its reserve composition. Any decision to increase gold holdings would likely be based on global economic conditions and diversification needs.Why do central banks like the Bank of Korea hold gold?
Central banks hold gold for its role as a safe-haven asset during times of economic uncertainty, its ability to act as an inflation hedge, and its diversification benefits, reducing reliance on fiat currencies.Where does the Bank of Korea store its gold reserves?
Official gold reserves held by central banks are typically stored securely in vaults, often within the central bank's own facilities or with trusted custodians, ensuring safety and accessibility.