The Bank of Korea thinks that gold isn’t the trend and holds just 0.2 percent of the country’s gold reserve but it’s Environment Ministry really knows the value of gold. It was recently working with several institutions to salvage gold from mobile phones. Together, a million cell were recycled for precious metals like gold and silver. A single cell phone reaps about $2. So that is around $2 million in revenues. Not such a bad idea, is it ?
“Not only the government, but also mobile companies as well as elementary, middle schools and high schools across the country participated in the event, ” the Environment Ministry said. It plans to hold such event on a regular basis after seeing the positive outcomes of the project.
Korea is one of the largest consumer of mobile phones and Koreans are known to be change cell phones a lot. So it seems like the people at the Korean Environment Ministry have really done their homework.