Seoul: The Bank of Korea (BOK) has maintained its position as the 39th largest holder of gold reserves globally, as it has not engaged in new gold purchases since 2013. This strategic decision comes despite a trend of active gold acquisition among other central banks worldwide, according to recent data.

According to Yonhap News Agency, a report by the World Gold Council highlighted that the BOK held 104.4 metric tons of gold by the end of 2025. This marked a drop in ranking from the previous year, placing South Korea 39th among central banks. However, when factoring in the holdings of the International Monetary Fund (IMF) and the European Central Bank (ECB), South Korea's ranking effectively falls two positions to 41st.

The report also noted that the United States holds the largest gold reserves globally with 8,133.5 tons, followed by Germany with 3,350.3 tons, Italy with 2,451.9 tons, France with 2,437 tons, Russia with 2,326.5 tons, and China with 2,305.4 tons. In contrast, South Korea's total foreign exchange reserves were US$430.7 billion as of the end of November, ranking ninth worldwide, with gold accounting for a mere 3.2 percent of the total.

The last instance of gold purchase by the BOK was in 2013, and since then, its global ranking has seen a gradual decline from 32nd in 2013 to 39th in 2025. The central bank has attributed its cautious approach towards additional gold purchases to gold's low liquidity and high price volatility when compared to other assets like bonds and equities.

In contrast, the World Gold Council indicated in a report from the previous year that central banks globally have been amassing over 1,000 tons of gold annually over the past three years. This rate significantly surpasses the average of 500 tons per year observed over the previous decade, driven by increased geopolitical and economic uncertainties.