Changing Gold Market: Threat or Opportunity?... 'Jongno Jewelry Forum' Held

Discussion on the core raw material of the jewelry industry and a safe asset favored by the public, 'Gold' Market on the 14th... Part 1: Keynote Presentation and Part 2: Issue Talk Show 'Changing Gold Market: Threat or Opportunity?'

Jongno-gu (District Mayor Jeong Munheon) will hold the 'Jongno Jewelry Forum 2023' on the 14th at the International Conference Hall of the Seoul Global Center Building.

This event will discuss the 'gold' market, a core raw material, a safe asset, and a popular choice among the public, in Jongno, the center of the jewelry industry. The forum is co-hosted by the Wolgok Jewelry Industry Promotion Foundation and the Korea Precious Metals and Jewelry Association Council, with many experts representing the related industries expected to participate.

The forum consists of Part 1, presenting the latest information on the gold market, and Part 2, an issue talk show discussing 'The Changing Gold Market: Threat or Opportunity?'.

Part 1 includes ▲ Gold Trend 2023 ? Why We Need to Read Gold Trends (Senior Researcher Park Seheon, Wolgok Jewelry Industry Research Institute) ▲ The Uncomfortable Truth ? The Reality of Our Gold Market (Executive Director Cha Mingyu, Korea Precious Metals Sales Association) ▲ The Digital Transformation of the Gold Market (General Manager Kim Jongin, Korea Gold Exchange Co., Ltd.) in sequence.

Part 2, the issue talk show titled 'The Changing Gold Market: Threat or Opportunity?', will be chaired by Nam Gyeongju, Director of the Seoul Jewelry Support Center. Panelists include Yoo Dongsu, President of the Korea Gold Association; Lee Kyungsook, Chairperson of the Seoul Precious Metals Manufacturing Cooperative; Lee Namseok, Director of Samsung Gold Exchange Co., Ltd.; Kim Wongu, CEO of Su&Jin Gold; and On Hyunseong, Director of the Wolgok Research Institute. They will explore the importance of new markets in the domestic gold-related industry and ways for the jewelry industry to grow together through technology-based business.

This forum is open not only to jewelry industry workers but also to the general public interested. Applications must be made through online pre-registration on the Wolgok Foundation website, with registration on a first-come, first-served basis.

The scale of the domestic gold distribution and consumption market ranks within the top 10 worldwide, with related product transactions totaling 764,000 cases and transaction amounts reaching 54.2449 trillion won over the past five years. In particular, about 100 tons of gold raw material are traded annually, and Jongno accounts for 20% of the domestic market and 50% of Seoul’s market, holding a high industrial concentration and playing an important role in product manufacturing and distribution.

Reflecting this, Jongno-gu held the 'K-Jewelry Jongno Festival' last month as part of the 2023 Let's Jongno initiative to support sales channels for the local jewelry industry, hosting jewelry brand pop-up stores, appraisals, and runway shows, which received enthusiastic responses from citizens.

District Mayor Jeong Munheon said, “I am pleased that the public, private, and academic sectors are cooperating to hold a meaningful forum in Jongno, the center of the jewelry industry,” adding, “I hope this forum, focusing on gold as a core material of the jewelry industry, will be a meaningful occasion to face the uncomfortable truths of the market and discuss directions toward digitalization and innovation.”

This content was produced with the assistance of AI translation services.