A surge in copper prices has led to increased theft of public property in Korea, with a recent case involving the theft of bridge nameplates in Jeollanam-do.
In Jeollanam-do, a significant rise in copper prices has resulted in a surge of theft targeting public facilities. On October 10, the police arrested a man in his 40s, identified only by the surname Kim, for stealing 855 nameplates from 254 bridges across the region. The nameplates, which are primarily made of copper and contain information about the bridge's name and installation date, were removed and sold to scrap dealers, netting Kim approximately 40 million won in profits. It is reported that he deliberately targeted areas lacking surveillance cameras to carry out his crime.
The investigation revealed that Kim used tools to detach the nameplates with relative ease, resulting in increased criminal activities associated with the spike in copper prices. Police apprehended him by tracking vehicles in the vicinity during the time of the crime. During interrogation, Kim stated that he committed the theft to pay for his living expenses, highlighting the desperate circumstances that may drive individuals to commit such acts in times of financial strain.
In a related incident, police recently arrested a man in his 50s who had stolen utility pole wires worth over 60 million won across 42 locations in Jeonnam, further illustrating the widespread issue linked to high copper prices. According to data from Korea's price information system, copper prices have reached an unprecedented high of $12,750 per ton as of the 9th of this month, exacerbating the situation as thieves seek to capitalize on the escalating value of copper in public infrastructure.
