In 1998, South Korea urged people to save the country from bankruptcy. Millions lined up with gold wedding rings and baby bracelets, raising $2.1 billion in just four months
Published on: July 3, 2026, 10:42 a.m. | Source: The Economic Times
In January 1998, millions of ordinary South Koreans voluntarily donated gold, including wedding rings and baby bracelets, to help their nation repay a massive IMF debt. This unprecedented public drive, inspired by historical acts of sacrifice, saw over 3.5 million citizens participate, contributing 227 metric tonnes of gold.
