According to CoinMeta, the South Korean Central Bank has restarted its physical gold purchase program for the first time in 13 years, establishing a cooperation framework with the South Korean Exchange (KRX), the South Korean Securities Depository and Clearing Corporation (KSD), and LS MNM to purchase gold intended for export by South Korean gold producers. Between 2011 and 2013, the South Korean Central Bank purchased a total of 90 tons of gold. As of the end of June, the central bank's foreign exchange reserves amounted to $427.36 billion, of which gold reserves were valued at approximately $4.79 billion, accounting for 1.1%. South Korea's annual domestic gold production is about 40 to 45 tons, of which about 4 to 5 tons are suitable for export. The South Korean Central Bank expects that the scale of future purchases will not be very large.