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Korea's minting agency sees sales rise 9.1 pct in 2019

All News 15:19 January 13, 2020

SEJONG, Jan. 13 (Yonhap) -- South Korea's state-run minting agency said Monday its sales rose 9.1 percent on-year in 2019, as it expanded overseas sales of gold and silver bar products.

The Korea Minting, Security Printing & ID Card Operating Corp. (KOMSCO) reported sales of 524.6 billion won (US$454.1 million) last year, the company said in a statement.

It was the first time that annual sales of KOMSCO had exceeded 500 billion won, according to the statement.

The agency has sought to bolster its overseas sales of gold and silver bar products, as cash issuance volume in South Korea has declined amid a sharp rise in credit card usage.

KOMSCO aims to post sales of 528.3 billion won in 2020.

A model holds up a 1-kilogram silver bar released by the Korea Minting, Security Printing & ID Card Operating Corp. (KOMSCO) on April 23, 2019. (Yonhap)

kdh@yna.co.kr
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