Soaring gold prices threaten Korea's first birthday ring tradition
In Korea, a gold ring carries deep meaning. Traditionally, it has been given by family or friends to wish a baby good health and fortune on their first birthday. It also serves as a financial safety net later in life — something to sell in times of hardship. But this long-standing tradition is now under threat as gold prices soar. “My son received a gold ring on his first birthday in 2015. This year, my friend’s son is turning one, and I can't ignore how much gold prices have risen," said a woman in her late 30s, who asked to be identified as Min’s mom. "Since I received a ring back then, I feel torn. Should I keep the tradition and give a gold ring, or would it be better to give cash instead?” The custom of giving gold rings on a baby’s first birthday traces back to Chinese immigrants who arrived in Korea during the Joseon Dynasty. Gold was believed to ward off bad luck and, thanks to its lasting value, symbolized an investment in the child’s future. Gold also holds historical significance in the Korean economy. During the 1997 Asian financial crisis, many families donated
Apr 24, 2025By Lee Yeon-woo