Soaring gold prices reshape South Korea’s rituals

A selection of 3.75-gram dolbanji, gold rings traditionally given on a baby’s first birthday. The rings now cost about 1.1 million won -- nearly five times more than they did a decade ago. (Newsis) A selection of 3.75-gram dolbanji, gold rings traditionally given on a baby’s first birthday. The rings now cost about 1.1 million won -- nearly five times more than they did a decade ago. -Newsis/The Korea Herald

SEOUL: Gold has long been woven into the fabric of South Korean life. The precious metal has traditionally marked key rites of passage, from births and marriages to other major milestones.

But soaring gold prices are reshaping customs, prompting cutbacks and substitutions in traditions once taken for granted.