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Gold bars selling like hot cakes in Korea convenience stores & vending machineswww.cnbc.com/2024/05/08/gold-is-selling-like-hot-cakes-in-koreas-convenience-stores-vending-machines.html
764 sats \ 11 comments \ @Cje95 8 May 2024 econ
I mean I never imagined going to a convenience store for gold but welcome to 2024 baby!
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47 sats \ 2 replies \ @k00b 8 May 2024
People in their 30s were most active in purchasing these gold bars, accounting for over 41% of the total sales since their launch, according to CU’s commerce phone app Pocket CU. Those in their 40s make up 35.2% of the sales, followed by people in their 50s at 15.6%. People in their 20s accounted for 6.8% of all sales.
I assume Pocket CU is a Door Dash-like app? @south_korea_ln?
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1022 sats \ 0 replies \ @south_korea_ln 8 May 2024
I don't use Pocket CU, but it looks similar to the apps of the other convenience stores here. It lets you browse what's available, ask some specific products to be ordered for delivery in your local branch, track packages you send through the convenience store postal service, etc... They usually don't do home-delivery though, unlike Doordash, as far as I know. Convenience stores are huge and everywhere in SK, with a few conglomerates controlling the whole market (CU, GS25 and 7-Eleven).
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10 sats \ 0 replies \ @BenAllenG 8 May 2024
More like a proprietary app for the convenience store, like a Wawa app or something.
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43 sats \ 0 replies \ @south_korea_ln 8 May 2024
Also at GS25...
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43 sats \ 3 replies \ @dollarparity 8 May 2024
This happened at Costco recently also.
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14 sats \ 1 reply \ @south_korea_ln 8 May 2024
That's right. Didn't confirm, but friend told me it was 13% above spot-price.
https://www.costco.co.kr/JewelryWatchesAccessories/24K-GoldSilver/c/cos_7.7.1
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14 sats \ 0 replies \ @BenAllenG 8 May 2024
So the kimchi premium isn't exclusively for Bitcoin it seems lol!
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4 sats \ 0 replies \ @Cje95 OP 8 May 2024
Costco is brining in a nice healthy $200 million a month doing this as well.... it is WILD!
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0 sats \ 1 reply \ @riberet19 8 May 2024
This is awesome, do you get the certified gold piece?
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0 sats \ 0 replies \ @Cje95 OP 8 May 2024
Yeah! Granted it is sold at a premium and the pieces are small (think the size of your finger nail) but yeah you put it and leave with the gold!
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0 sats \ 0 replies \ @BenAllenG 8 May 2024
The real gold at cu is a bottle of 바나나 우유 lol
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