Value context and insight. lkm@koreatimes.co.kr
Rising gold prices fuel surge in jewelry store robberies across Korea
Customers at a jewelry store in Seoul, Wednesday / Yonhap
By Lee Kyung-min
Thefts at jewelry stores are on the rise amid gold’s record-breaking rally, market watchers said Thursday.
International gold prices recently surpassed $5,300 (7.5 million won) per ounce for the first time, driven by weakening confidence in U.S. dollar assets amid geopolitical tensions and recent remarks by U.S. President Donald Trump advocating a weaker dollar.
Police reports of attempted gold thefts have risen sharply. The suspects tried to quickly convert the stolen items into cash, police added.
In Gwangju, police detained a teenager, Thursday, after he posed as a customer and stole a gold bracelet worth 30 million won from a jewelry store.
Last Friday, police in Daejeon booked a teenage boy for allegedly stealing gold bracelets worth about 8 million won from a jewelry store. Authorities are deciding whether to seek an arrest warrant.
This followed another case in Suwon, Gyeonggi Province, Jan. 21, involving a middle school student who was detained for attempting to sell jewelry using a forged ID card.
Apart from teenagers, adults have also been involved. Last Friday, a man in his 30s was arrested for stealing jewelry worth 3.8 million won from two stores in Gwangju.
Earlier this month, a more serious incident occurred in Bucheon, Gyeonggi Province, where a robbery at a jewelry store left the owner dead.
The suspect, a man in his 40s who allegedly stabbed and killed the owner, was arrested in Seoul about four and a half hours after the incident.
According to police, the suspect was found carrying about 10 million won in cash at the time of the arrest. The cash came from selling the stolen gold, police said.
He was arrested on charges of murder.