Gold rush: Jewelry store worker runs off with more than $700,000 of the precious metal

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Published: 30 Jan. 2026, 15:41

An employee packages gold bars at a gold exchange in Jongno District, central Seoul, on Oct. 17, 2025. [JUN MIN-KYU]

Police launched an investigation after a man working at a jewelry store in Jongno 3-ga, central Seoul, allegedly made off with 4 kilograms (8.8 pounds) of gold worth more than 1 billion won ($700,000).

According to the Hyehwa Police Precinct on Friday, the store owner filed a report around 1:40 p.m. on Tuesday, saying an employee had left with the gold and was no longer reachable.

The suspect, who is a relative of the store owner, had reportedly been asked that day to have the gold made into bars — a routine task, according to police.

When the employee failed to return and could not be contacted for an extended period, the owner filed an embezzlement complaint with police.

As of Friday, the market price of 24-karat gold stood at 1,011,788 won per don, a traditional Korean unit of weight in which one unit equals 3.75 grams (0.1 ounce), putting the value of 4 kilograms at approximately 1.08 billion won.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY KIM JI-HYE [[email protected]]