Silver Premium & Discount in Korea
We provide Silver Premium & Discount in Korea; the divergence between the international silver price (XAG/USD) and Korea silver-bar retail price. All data update every 15 minutes in real time.
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Why the International and Domestic Silver Prices Differ
While the benchmark silver price is determined in major global markets such as London and New York (USD/oz), Korea’s domestic silver price differs due to additional factors such as the exchange rate (KRW/USD), taxes, distribution costs, trading channels, and premiums based on the product form and brand.
- Exchange rate (KRW/USD): Conversion effect from USD to KRW
- Taxes / Fees: Value-added tax (VAT), transaction fees
- Spread: Difference between buying and selling prices, quote increments
- Premium: Brand, product form (bar/coin), packaging, fabrication cost, etc.
- Time difference / Trading hours: Gap between global and domestic market updates
- Supply & logistics cost: Domestic inventory, storage, hedging, and transportation costs
Conversion Formula for International Silver Price (KRW per gram)
International Silver Price (KRW/g) = ( International Silver Price USD/oz × Exchange Rate KRW/USD ) ÷ 31.1035
- International Silver Price: 24.02 USD/oz
- Exchange Rate: 1,400 KRW/USD
- Calculation: 24.02 × 1,400 ÷ 31.1035 = 1,081.16 KRW/g
Note: The unit “oz” used in precious metals refers to the troy ounce, equal to about 31.1035 grams. This differs from the common avoirdupois ounce used for everyday weights.
Data Update Notice
- The Silver Kimchi Premium chart updates every 15 minutes.
- Depending on network or data-source latency, updates may be delayed by several seconds to minutes.
- Please check the “Last Updated” timestamp at the top of the page for reference.
Frequently Asked Questions (Q&A)
Q1. What is the “Korean silver price” shown in the dashboard and charts?
A. The Korean silver price is the KB Kookmin Bank “Silver Bar (Silver) Price” with the 10% VAT excluded. The displayed value may differ from the official posted price, and actual transaction prices may vary due to fees, rounding, and policy changes. For exact prices, please refer to KB Kookmin Bank’s official channels.
Q2. The Silver Kimchi Premium (or divergence) sometimes exceeds 10%. How should I interpret this?
A. The domestic silver price includes additional costs such as brand, certification, packaging, labor, inventory, and retail expenses. Therefore, the Silver Kimchi Premium reflects these local factors. We recommend using the figures mainly to observe relative movements and volatility, rather than as absolute pricing indicators.
Q3. What are the data sources for the dashboard and chart?
A. International silver & FX: Metals.Dev plus our own KRW conversion. Korean silver price: Korean silver price: KB Kookmin Bank silver-bar price (VAT excluded: official price ÷ 1.1). Units/labeling follow our own display rules.
Q4. When are the Silver Kimchi Premium charts updated?
A. The Silver Kimchi Premium chart updates every 15 minutes. Data are not updated during weekends.
Disclaimer
- All figures are provided for informational, view-only purposes. For exact prices, please refer to the official channels of the relevant financial institutions or retailers.
- This page does not constitute investment advice. You are solely responsible for your investment decisions and outcomes.
- No unauthorized copying or redistribution. Automated data collection is restricted by our anti-scraping policy.
