Sales at the mint grew fast in 2019 on gold and silver

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Sales at the mint grew fast in 2019 on gold and silver

Korea’s state-run minting agency said Monday its sales rose 9.1 percent on-year in 2019, as it expanded overseas sales of gold and silver bar products.

The Korea Minting, Security Printing & ID Card Operating Corporation (Komsco) reported sales of 524.6 billion won ($454.1 million) last year, the company said in a statement.

It was the first time that annual sales of Komsco exceeded 500 billion won, according to the statement.

The agency has sought to bolster its overseas sales of gold and silver bar products, as cash issuance volume in Korea has declined amid a sharp rise in credit card usage.

Komsco aims to post sales of 528.3 billion won in 2020.

Yonhap

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