As copper prices hit an all-time high, a retired electrician in South Korea has been arrested for stealing copper wire from electric poles. The Jeonnam Sinan Police Department reported that a man in his fifties, referred to as Mr. K, was taken into custody for habitual theft amounting to over 60 million won, which he allegedly committed through 42 thefts between January and the most recent month. Mr. K had worked with a contractor for Korea Electric Power Corporation for eight years before retiring recently.

Police investigations revealed that Mr. K specifically targeted auxiliary wires, also known as neutral lines, that help retrieve residual current. These wires contain copper but do not carry a current, so cutting them does not result in a power outage. Authorities believe that Mr. K deliberately cut only the neutral lines to avoid detection while executing his thefts. The police initiated an investigation after receiving reports of the thefts and managed to apprehend Mr. K during one of his return trips from committing the crimes.

Following his arrest, the police sought a warrant for Mr. K's detention; however, the court rejected the application, allowing Mr. K to remain free while under investigation. The police plan to conduct further inquiries into his potential other crimes before sending his case to prosecutors in due course. The surge in copper prices, which reached around $14,000 per ton in January according to the London Metal Exchange, likely served as a significant motivator for Mr. K's criminal actions.