LIVE SOUTH KOREA GOLD WORKSPACE
A won-per-gram reference, a KRX position and a physical bar are three different prices
South Korea has an unusual but useful split: KRX Gold Market positions trade in one-gram units, while physical withdrawal uses certified 100-gram or one-kilogram bars. The worksheet starts with a live, source-labelled KRW reference and leaves commercial quotes empty until you enter real KRX executions, broker fees and retail offers. It then exposes domestic basis, withdrawal VAT, physical cost and both round-trip gaps without pretending the numbers are interchangeable.
Price reference
Shows the source and observation time of the metal price used here. Product premiums, dealer quotes and taxes are separate.
- Source
- No provider
- Observed
- Observation time unavailable
- Age
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- Delivery
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Checking the current market reference.
Compare a KRX position, physical withdrawal and a retail bar
Commercial quote fields start empty. Use one timestamp and the exact broker, KRX instrument and physical product. GoldObserve does not copy or invent a market board.
QUICK ANSWER
Choose the price that matches the action
International gold translated into won, with source and time.
One-gram trading through an eligible intermediary.
100 grams or one kilogram, subject to the chosen instrument.
Fabrication, VAT, delivery and dealer spread may be embedded.
The most common comparison error is to place a VAT-exempt KRX screen price beside a tax-included physical bar total and label the full difference a dealer premium. First decide whether the goal is price exposure inside the market or possession of a specific bar. Only then compare like-for-like total costs and exits.
KRX MARKET MECHANICS
Trading one gram does not mean withdrawing a one-gram bar
KRX stores the eligible metal through the Korea Securities Depository, while KOMSCO performs the quality-certification role described by the exchange. An investor still accesses the market through a participating securities or futures firm, so account availability, commission, withdrawal processing and cut-off times must be confirmed with the current intermediary.
THE KRW PRICE ENGINE
International gold and USD/KRW explain only part of the domestic price
KRX also identifies domestic supply and demand as a local price driver.
Enter comparable gold and exchange-rate values
Use the same dates and one consistent exchange-rate convention.
Local return = (1 + USD gold return) × (1 + local-currency-per-USD return) - 1.
Market translation only. Physical premiums, dealer spreads, tax, delivery, storage and observation-time differences are not inferred.
The round inputs are teaching scenarios, not recorded history or forecasts. Even perfectly matched gold and FX observations do not force the KRX order book to equal the converted reference. Local inventory, trading hours, market depth and buyer-seller imbalance can create a domestic basis that should be measured rather than assumed away.
TAX AND POSSESSION
VAT-exempt market trading becomes a different transaction at physical withdrawal
KRX states that trades inside the Gold Market are exempt from VAT and that capital gains realized on KRX gold are not taxed. It separately states that 10% VAT is imposed when physical gold is withdrawn from the depository. These are exchange descriptions of the market framework, not a tax opinion for every account, business, residency or later resale.
Broker commission and order execution still affect cost.
The selected 100 g or 1 kg instrument must meet its full bar unit.
Fabrication, dealer spread and delivery can sit outside the metal value.
KRX re-entry, dealer buyback and private resale have different costs and evidence.
Do not buy 100 one-gram units assuming any KRX product can automatically be exchanged for any branded 100-gram bar. Confirm the instrument, accumulated quantity, available certified bar, withdrawal application, VAT base, fee, timing and delivery method before treating withdrawal as executable.
PRODUCT BOUNDARIES
KRX spot gold, futures, banking products and retail bullion are not substitutes
KRX gold futures quote won per gram, use a 100-gram contract and settle in cash. Their final settlement references the KRX Gold Market, but that link does not turn the derivative into a withdrawable spot balance. Leverage and expiry can reverse a recommendation that looked reasonable for unleveraged gold.
NAME AND COUNTERPARTY CHECK
The word exchange on a shop sign does not make the business KRX
KRX warns that private businesses using names such as gold exchange are unrelated to Korea Exchange. Some businesses may separately participate as proprietary market members, but branding alone proves neither membership nor customer protection. Verify the legal entity, KRX member list, seller registration, invoice issuer, bank beneficiary and written delivery or buyback terms.
Match the contract, invoice, payment account and registration.
Use the current official member information, not a logo or similar name.
Refiner, serial, weight, purity, seal and assay evidence must agree.
Request a dated net bid for the exact product and condition.
BUYING AND WITHDRAWAL CHECKLIST
Audit the complete Korean gold decision
01Record the KRW-per-fine-gram reference, provider and observation time.
02Capture the same-time KRX executable price, not only a delayed or last-trade display.
03Confirm the 100 g or 1 kg KRX instrument and one-gram order quantity.
04Obtain the current broker commission, account and order rules in writing.
05For withdrawal, confirm whole-bar quantity, certified bar availability and timing.
06Request the exact VAT base, withdrawal fee, delivery method and custody hand-off.
07For retail gold, separate metal value, fabrication, tax, payment and delivery.
08Compare the KRX net sale and physical dealer buyback at the same time.
09Verify the counterparty and do not infer KRX affiliation from a business name.
10Keep statements, invoices, serial records and withdrawal documentation for the full holding period.
METHODOLOGY & PRIMARY SOURCES
Korea Exchange rules, not copied dealer listings
- KRX Gold Market overview documents the one-gram market, custody, quality certification, tax framework and investor access.
- KRX eligible gold bullion rules specify 99.99% purity, 100-gram and one-kilogram bars, serial marking and certification requirements.
- KRX trading and quotation units provide the one-gram quantity, KRW 10 tick, limit-order and price-limit rules.
- KRX market guide distinguishes exchange trading from over-the-counter physical gold, lists regular hours and explains that similarly named private distributors are unrelated to KRX.
- KRX VAT guidance states that trades inside the Gold Market are VAT-exempt.
- KRX gold futures specification documents the 100-gram derivative, KRW-per-gram quotation and cash settlement.
Live KRW pricing comes from the same GoldObserve market endpoint used across the site and retains provider and observation time. It is an international reference, not a KRX feed or retail offer. GoldObserve does not reproduce a KRX order board, broker tariff or dealer catalogue. Review the data methodology and source register.
RELATED SOUTH KOREA GOLD WORKFLOWS
Continue from the won reference to a defensible transaction
SOUTH KOREA GOLD FAQ
Frequently asked questions
What is the gold price in South Korea today?
GoldObserve shows a source-labelled international gold reference in Korean won per fine gram. A KRX execution, a withdrawn bar and a retail gold-bar quote can differ because they include different domestic basis, fees, VAT, fabrication and liquidity.
Can an individual buy one gram of gold on the KRX Gold Market?
KRX states that its minimum trading and quotation quantity is one gram. An investor participates through a member securities or futures firm and should check the current account, commission and order requirements with that intermediary.
Can one gram of KRX gold be withdrawn as a physical bar?
No. One gram is the trading unit, not the physical withdrawal unit. KRX lists eligible 99.99% bars in 100-gram and one-kilogram weights, and the selected instrument must accumulate enough units for its corresponding withdrawal size.
Is VAT charged when trading gold on KRX?
KRX says gold trades within the exchange market are VAT-exempt, while 10% VAT is imposed on physical withdrawal from the Korea Securities Depository. Broker fees and the exact withdrawal invoice must still be checked.
Why can the KRX gold price differ from international gold converted into won?
KRX identifies international gold, the US dollar value and domestic supply and demand as price drivers. Observation time, FX convention, local inventory and order-book conditions can therefore create a domestic premium or discount.
Is a private business using the words gold exchange part of KRX?
Not necessarily. KRX explicitly says private distributors using exchange-like names are unrelated to KRX, although an individual business may separately be a proprietary trading member. Verify the legal entity and member status rather than relying on branding.
Are KRX gold futures the same as KRX spot gold?
No. KRX gold futures are derivatives with a 100-gram contract size, KRW-per-gram quotation and cash settlement. A futures position is not the same as owning a spot-market balance that may become eligible for physical withdrawal.