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The Bank of Korea has purchased gold-related assets for the first time in 13 years to hedge against geopolitical and economic uncertainties. According to a document submitted to the U.S. Securities and Exchange Commission, the Bank of Korea held 679,765 shares of SPDR Gold Shares worth approximately $250 million as of the end of the second quarter. The document indicates that three months ago, the bank did not hold any shares in the world's largest physically backed gold ETF. The Bank of Korea stated that this investment marks its first purchase of gold-linked assets since 2013. This purchase will not increase the bank's official gold reserves, as gold ETFs are classified as securities and are part of the foreign exchange reserves. Hanwha Investment & Securities economist Choi Kyuho commented, "The Bank of Korea currently has a relatively low allocation to gold. From the perspective of aligning with global standards, there is still room for the Bank of Korea to further purchase gold. I believe they will gradually increase their gold holdings."