Korea Gold Exchange Digital Asset said on Sunday it will expand the list of items eligible to sign up for Hana Gold Trust, which it operates with Hana Bank, to include 18K and 14K gold from the current 24K pure gold.

The company said the expansion will open an opportunity for a wider range of jewellery to enter the realm of safe and systematic financial asset management.

Hana Gold Trust accepts gold products including gold bars, as well as rings, necklaces, bracelets, golden keys and animal shapes such as pigs and turtles, as long as they are 24K, 18K or 14K jewellery and other gold items. The minimum eligible deposit weight is 30 grams, about 8 don.

The core of Hana Gold Trust is converting various forms of old gold deposited by customers into a standard asset that can be trusted.

If a customer agrees with the appraisal results and signs a consumption loan agreement, the deposited gold is managed through a processing stage. After a one-year management period, which can be extended at maturity, customers can receive it back as a new gold bar with 99.99 percent purity manufactured by Korea Gold Exchange.

Customers who want to use the service can visit a nearby Hana Bank branch with their identification and the physical gold to be deposited. Korea Gold Exchange Digital Asset said customers can consign assets through expert consultation without complicated procedures, making the service suitable for older people who are vulnerable to home security or customers who want professional asset management.

A Korea Gold Exchange Digital Asset official said, "By combining our professional appraisal capabilities with Hana Bank's financial system, we have expanded the service scope to 18K and 14K." The official added, "We hope customers who feel burdened by recently more sophisticated theft crimes can protect their assets without worrying about theft and experience smart 'gold tech' that also provides cash interest income and the benefit of converting into top-grade gold bars."