12.02.2025 10:11
In a time when trade wars are intensifying, South Korea's official mint has taken a notable step regarding gold. The mint announced that it has halted the sale of gold bullion.
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The Korea Minting and Security Printing Corp has made a decision expected to deeply impact the markets. According to a statement from the mint, the sale of bullion gold has been temporarily suspended.
In the statement, it was noted that such a decision was made due to issues arising from the dilemma of supply and demand, and it was stated that as soon as the problem is resolved, the sale of bullion gold will resume.
THE DECISION IS LINKED TO THE US'S ADDITIONAL TAX MOVE
The decision of the Korea Minting and Security Printing Corp to halt bullion gold sales is linked to the US's 25% additional tax move. As global gold traders rushed to deliver bullion gold to the US ahead of potential customs tariffs on metals, the South Korean government adopted a protectionist approach. Thus, the Seoul government aims to address concerns about the decrease in the amount of bullion gold in South Korea by facilitating the rapid sale of bullion gold to the US.
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