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The golden bat statue made from 162 kilograms of pure gold is displayed in Hampyeong County, South Jeolla Province, April 19, 2023. Yonhap
In rural Hampyeong County, South Jeolla Province, stands an enormous bat statue made from pure gold.
When it was accomplished in 2008, the statue got here below hearth for allegedly losing taxpayer cash. Practically 20 years later, rising gold costs have shifted the narrative, with the statue’s worth now estimated at roughly 14 occasions its unique manufacturing value.
Based on the Korea Gold Change, the worth of pure gold stood at a file 1,034,000 received ($714) per 3.75 grams as of Tuesday.
The determine displays a unbroken upward pattern after costs crossed the 1 million received threshold for the primary time on Jan. 21, pushed by a pointy rise in world gold costs and rising investor demand for secure haven belongings.
As gold costs proceed to achieve new highs, rising consideration is being drawn to an enormous bat statue within the rural county — or, extra exactly, to its present worth.
Accomplished in 2008, the statue is made from 162 kilograms of pure gold and 281 kilograms of silver. On the time of building, the fabric value stood at roughly 2.7 billion received. Primarily based on present costs, the gold alone is estimated to be price about 38.67 billion received.
The sculpture measures 1.5 meters in width and a pair of.1 meters in peak. It depicts six golden bats with wings unfold in flight, mounted on a round silver construction.
Regardless of its scale and price, the challenge quickly got here below hearth as a waste of public funds, after failing to generate a noticeable enhance in vacationer site visitors in its early years. However now, the angle has modified.
Because the Korea Gold Change started formally compiling and releasing home gold value knowledge in March 2008, costs had remained within the 100,000- to 300,000-won vary till the early 2020s.
That modified in March 2024, when costs broke above 400,000 received for the primary time on file. They continued to surge, surpassing 600,000 received in March final 12 months and 800,000 received in October the identical 12 months.
Citing safety considerations, Hampyeong County had beforehand displayed the golden bat statue solely briefly on the Golden Bat Ecological Exhibition Corridor close to Hampyeong Expo Park. Starting in 2024, the sculpture was relocated to the expo park itself and positioned on everlasting public show.
This text from the Hankook Ilbo, the sister publication of The Korea Instances, is translated by a generative AI system and edited by The Korea Instances.
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