Korea's official gold reserves remain unchanged for 13 years, rank 39th worldwide

Tue Jan 27 2026

The Bank of Korea (BOK) ranked 39th worldwide in terms of gold reserves, as the central bank has refrained from additional gold purchases since 2013 despite its global peers' active buying, data showed Tuesday.

According to a report by the World Gold Council, the BOK held 104.4 tons of gold at the end of 2025, ranking 39th among central banks worldwide, down one notch from a year earlier.

When holdings by the International Monetary Fund (IMF) and the European Central Bank (ECB) are included, Korea's position effectively falls to 41st.

The United States held the world's largest gold reserves at 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.

Korea's total foreign exchange reserves stood at $430.7 billion as of the end of November, ranking ninth in the world. Gold accounted for 3.2 percent of the total, placing the country near the bottom globally.

The BOK last purchased gold in 2013, and its global ranking has since declined steadily from 32nd in 2013 to 33rd in 2018, 34th in 2021, 38th in 2024 and further to 39th last year.

The central bank has cited gold's relatively low liquidity and high price volatility compared to other assets, such as bonds and equities, as major reasons for its cautious stance on additional purchases.

In contrast, the World Gold Council said in a report issued last year that central banks worldwide accumulated more than 1,000 tons of gold annually over the preceding three years, far exceeding the roughly 500 tons per year average seen over the previous decade, amid heightened geopolitical and economic uncertainty.

Source: https://koreajoongangdaily.joins.com