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GS Retail rolls out gold bar vending machine

(Source: Korea Bizwire)

GS Retail Co. said Tuesday it will start the trial operation of a gold bar vending machines at five locations including two GS25 convenience stores.

The vending machines will sell five different types of gold products by weight ranging from 1.875 grams to 75 grams, as well as commemorative coins.

First, the retailer will sell up to 37.5 grams of gold and the trading conditions will change on a daily basis reflecting international gold prices.

Source: Korea Bizwire

GS Retail cited the expansion of non-face-to-face transactions, the increasing preference for safe assets, and the increase in small investment trends as reasons for its decision to introduce gold bar vending machines.

After a trial that is expected to run until August next year, the company will review the idea of expanding gold bar vending machines based on sales records.

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