IMF (International Monetary Funds) brought serious economic pain to every Korean family but people in Korea became one to overcome this economic crisis together at the same time.
Ten tons of gold was collected by people only in 2 days
video from KBS News in 6th January 1998 <https://www.youtube.com/watch?v=P5puNUKcL3s>
Gold collection is one of the representative examples of campaigns during the IMF, from 1997 to 1998. The gold collection campaign was diffused to the whole nation regardless of age and gender. In particular, many housewives gave up their wedding rings and their children’s first-birthday rings to support the nation’s economy.
People in Korea brought and donated their gold to the government with no string attached during 1997 to 1998. The only reason to donate their gold was for saving their country and “becoming a powerful nation”. This movement can be explained with Korean collectivism.