The 104.4 tons of gold and 8,380 gold bars held by the Bank of Korea are all stored in the vaults of the Bank of England in London.

The Bank of Korea only accessed and verified the gold, which has been entrusted to them since 1990, for the first time in 2023.

We have summarized why gold we have never even seen belongs to us, why countries are particular about where to store their gold, and where the gold in my account is.

0:00 Where is the Bank of Korea's 104 tons of gold?

1:04 How did the Bank of Korea's gold end up in London?

2:41 Why is gold we haven't even seen ours?

6:36 We cannot show it.

8:34 Confirmation after 33 years

9:24 Countries scrutinizing where to store their gold

11:12 The Bank of Korea's choice

12:39 Where is my gold?

■ References (Primary Sources)

Bank of Korea announces results of first physical inspection of gold held by the Bank of England (2023-06-06)

Bank of Korea announces agreement to purchase domestically produced gold (2026-08-03)

World Gold Council (WGC), Gold Mid-Year Outlook 2026 · Central Bank Gold Reserves Survey 2026 (2026-06-16)

World Bank, Commodity Price Data (Pink Sheet) Monthly Average of Gold (Updated 2026-09-02)

Deutsche Bundesbank announces plan to relocate gold storage (2013-01-16) · Gold Statement on Gold Holdings (2012)

Interview with Bundesbank President Joachim Nagel (2026-01-27)

Central Bank of the Netherlands (DNB) Announces Improved Trading Ease for Gold Holdings (2026-09-02)

Bank of France Releases 2025 Annual Report (2026-03-24)

U.S. Treasury Department Press Release on Ban on Transactions with Russian Central Bank (2022-02-28)

Milton Friedman, "The Island of Stone Money" (1991)

W. H. Furness 3rd, "The Island of Stone Money, Uap of the Carolines" (1910)

KRW-USD Exchange Rate 2026-09-23 Seoul Foreign Exchange Market Closing Price, Spot Gold 2026-09-25

■ Photo/Video Sources (Crop All, Resize, Color Correction, Partial Cropping)

Bank of Korea Currency Museum (Old Main Building): Sean Young, CC BY 4.0, Wikimedia Commons 「Bank_of_Korea_Museum_20240219.jpg」

Lifting a gold bar at the Bank of England Museum, old bank stock office: Matt Brown, CC BY 2.0, Wikimedia Commons 「Lifting_a_gold_bar_Bank_of_England_Museum_2024-08-30.jpg」·「Soane's_Bank_Stock_Office_Bank_of_England_Museum_2024-08-30.jpg」

Bank of England facade, Bank of England and the City: It's No Game, CC BY 2.0, Wikimedia Commons 「Bank_of_England_(49121095233).jpg」·「Bank_of_England_&_the_City_(49121788047).jpg」

Bank of England facade (horizontal), Frankfurt skyline: Fred Romero, CC BY 2.0, Wikimedia Commons 「London_-_Bank_of_England.jpg」·「Frankfurt_am_Main_-_Skyline_(1).jpg」

Federal Reserve Bank of New York building: Ajay Suresh, CC BY 4.0, Wikimedia Commons 「Federal_Reserve_Bank_of_New_York_(55312936457).jpg」

Bank of Canada Museum stone money: Bank of Canada Museum, CC BY 2.0, Wikimedia Commons 「Rai_or_stone_money_Rai_ou_monnaie_de_pierre_(51250262210).jpg」

German Federal Parliament chamber: Andreas Praefcke, CC BY 3.0, Wikimedia Commons 「Reichstag_Plenarsaal_des_Bundestags.jpg」

Bank of Russia building: Kuba, CC BY 3.0, Wikimedia Commons 「Банк_России_2009.JPG」

Bank of Russia Central Archives (2011-01-24): Russian government website (archive.government.ru), CC BY 3.0

Street in front of the Bank of Korea in June 1950: USAG-Humphreys (Korean War 60th Anniversary Photo Archive), CC BY 2.0

Gold bars from the Bank of France exhibition: Ibex73, CC BY 4.0, Wikimedia Commons 「Gold_bar_of_Banque_de_France.jpg」

Frankfurt Bundesbank building: Dguendel, CC BY 3.0, Wikimedia Commons 「Frankfurt_am_Main,_Deutsche_Bundesbank_und_Marienturm.jpg」

Panoramic view of the National Assembly: National Assembly Image Archive, KOP1 Type 1

4 photos of the New York Federal Reserve vault: © Federal Reserve Bank of New York. Content from the New York Fed subject to the Terms of Use at newyorkfed.org. (Edited by the video creator, cropping and removal of caption strips in this video)

Public Domain · CC0: U.S. Mint West Point Gold Bullion (Photo/Video), Portrait of Milton Friedman and "The Pencil" Lecture Video (Free to Choose Network, CC0), W. H. Furness 3rd's Photographs and Plates of Yap Island (1903·1910), Palau Quarry (Elisabeth Krämer-Bannow, 1908–1910), Exterior of the Central Bank of the Netherlands (Joost Evers/Anefo, 1968) and Gold Transfer Convoy (Dutch Ministry of Defence, 2020), Currency Museum (Hokkie, 2023), Southern Manhattan (U.S. National Archives, 1931) and USS Akron (U.S. Navy), New York Federal Reserve Building (1936) and Newspaper Stand (1935) (Berenice Abbott/WPA, New York Public Library), Bank of France Front view (Agence Meurisse/National Library of France, 1931), Bank of England picture postcard (Curt Teich Collection, Newbury Library), Port of Busan, 1950 (U.S. National Archives · U.S. Army Signal Corps 111-ADC-8130), Universal Newsreel (1933-03-09), White House State of the Union address video (2022-03-01), U.S. Tr...