Gold-Collecting Campaign

To help overcome the currency crisis, many citizens donated gold they kept at home.

It began after Korea took the IMF bailout in December 1997, as a way to help repay the nation’s debts. Likened to the National Debt Repayment Movement of 1907, it was called a "second debt repayment movement".

In early 1998 people brought in wedding rings, first-birthday rings and other gold. Some 3.5 million took part, collecting over 220 tonnes, most of which was exported to earn foreign currency.