With the price of a baby’s first-birthday gold ring reaching KRW 1 million and a single gold necklace line soaring to several million won, neighborhood jewelry stores are becoming targets for criminals. As of the 13th, pure gold for 1 don (3.75g) was trading in the KRW 950,000 range at Korea Gold Exchange. Just a year ago, gold prices were in the KRW 500,000 range, meaning they have nearly doubled.

Crimes exploiting this situation are rising in tandem. According to security company S-1, crimes targeting jewelry stores increased 48% year-on-year in 2023, when gold prices began to climb in earnest. Last year as well, such crimes rose 6% from the previous year.

In particular, the pattern of offenses has changed. In the past, about 80% of incidents occurred during unmanned early-morning hours, but recently the share of incidents during business hours has risen to around 50%. There has been an increase in bold tactics, such as approaching under the guise of being a customer or exploiting moments when staff are distracted.

A representative of the Korea Precious Metals Retailers Cooperative stated, “When gold prices surged during the COVID-19 period, jewelry store theft spread almost like a trend,” conveying the industry’s anxiety. Jewelry store owners in the South Gyeongsang region are establishing their own countermeasures by sharing descriptions of suspects via social networking services (SNS).

● Surge in demand for preemptive security solutions

Jewelry stores are also moving to upgrade their security systems. Conventional closed-circuit (CC) TV systems could only be checked after a thief had already fled with the goods, and it was difficult for ordinary sensors to detect intruders hiding behind display cases. Even though a single incident can cause losses from tens of millions of won up to the KRW billion range, store owners were effectively helpless.

However, with the integration of artificial intelligence (AI) technology, CCTV has evolved from a “recording device” into a “thinking device.” Whereas traditional CCTV merely recorded footage, AI CCTV analyzes video in real time, autonomously detects abnormal behavior, and sends immediate alerts. This enables preemptive action rather than only post-incident review.

According to the security industry, the global AI CCTV market stood at USD 26.63 billion in 2024, up 15% from the previous year. The market is projected to reach USD 71.08 billion by 2031. The domestic CCTV market is also expected to grow by an average of about 19% annually from 2025 to 2033.

Last year, the number of cases in which jewelry stores upgraded their security solutions increased 23% year-on-year. Revenue surged 101%. Jewelry shops that previously relied only on basic solutions such as infrared detectors are switching to higher-level security solutions such as AI CCTV and specialized sensors. New customer acquisitions also rose 8.4%.

● Customized packages from intrusion detection to post-incident compensation

Within the industry, customized security solutions tailored to the specific characteristics of the jewelry sector are emerging. S-1’s security service provides UWB (ultra-wideband) detectors. UWB is a type of radar that uses ultra-wideband frequencies and can detect intruders hiding behind objects such as display cases or umbrellas. In addition, glass-break detectors are installed so that if showcase or entrance door glass is broken, an alarm is triggered immediately.

At the video monitoring stage, AI-based intelligent CCTV automatically analyzes abnormal behavior—such as loitering around the store or unauthorized entry into designated areas—and notifies the owner in real time. At the compensation stage, customers subscribed to unmanned security services receive special compensation for theft, fire, and related incidents. Given that losses tend to be large when incidents occur at jewelry stores, an integrated support system has been established that covers everything from prevention to post-incident compensation.

An industry official said, “Gold prices are expected to remain on an upward trend for some time, so security demand is also likely to continue increasing,” adding, “Intelligent security systems using AI technology will expand not only in jewelry stores but across a wide range of retail sectors.”

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