Editor’s Note
This article examines how economic stimulus measures have reshaped consumer behavior in the jewelry sector, driving a notable expansion in the custom and mid-range market.
As the economy faces difficulties due to COVID-19, a large amount of money has been injected into the market economy to overcome the crisis, leading to significant price increases in real estate, gold, and jewelry. Accordingly, the importance of jewelry has become more prominent, and the custom jewelry market utilizing materials such as titanium and synthetic gemstones in the mid-to-low price range is expanding. For high-end gemstones like the four major gems—diamond, ruby, sapphire, and emerald—gemstone craftsmanship has become even more crucial.
The protagonist who has gained worldwide fame for maximizing the value of natural gemstones by processing them without heat treatment, preserving their natural state, is Park Ji-gon, Chairman of Byeji Co., Ltd. Chairman Park Ji-gon explained, “Non-heated gemstones refer to those in their pure, natural state. We place greater value on bringing out the inherent beauty of natural rough stones, rather than heating low-quality rough stones to make them merely appear luxurious.”
He is particularly known for sapphire, one of the four major gemstones. Chairman Park Ji-gon, who owns the ‘world’s largest natural pink sapphire,’ is a jewelry designer and holds the titles of World Master (Certificate No. WM-20378) and Korean Master (Certificate No. 18-548). Having established a company in Guinea, West Africa, and owning a bee-hive diamond mine, Chairman Park is a pioneer who developed the distant land of Guinea, West Africa, and is also the first Korean to own a natural diamond mine on the international stage.
The gemstone, shaped like a wisdom-giving brain and fetal form from another angle (a sapphire believed to have spiritual efficacy, the world’s largest at 8.0kg (40,000 carats), valued at a minimum of 40 billion to a maximum of 100 billion KRW).
A 791.66-carat teardrop sapphire (worth approximately 150 billion KRW).
This gemstone is a cut stone from a rare, non-heated (unheated) rough. World Master Park Ji-gon stated that even after a thousand years, such a rough stone and color formation will never be seen again, and whoever owns it will possess a world-class gemstone, the ultimate rare treasure.
After the COVID-19 virus subsides, he plans to hold Korea’s first-ever auction targeting global tycoons. Due to recent increases in rough stone prices, the auction is expected to start from a minimum of 80 billion KRW. Therefore, it is firmly believed that holding such a jewelry auction for the first time in Korea will greatly benefit the national interest, not to mention earning dollars.
The teardrop sapphire is evaluated as a ‘stone of life’ because its formation resembles human blood vessels, spreading from the central artery. It is also praised for its indescribably mysterious and beautiful colors expressed on the back. Moreover, as the largest masterpiece gemstone on Earth, it has received acclaim that no one can appraise its market value. Furthermore, this sapphire is said to contain and emit the light of living life.
Meanwhile, 99.99% of Korea’s jewelry market consists of processed (heat-treated) stones imported and distributed from abroad. Regarding the aforementioned non-heated gemstones, Chairman Park said:
Having now concluded 40 years of life abroad and returned to his hometown of Miryang to spend the rest of his life, he established Byeji and processes and produces dozens of mysterious gemstones, including the world’s four major gemstones—diamond, sapphire, emerald, and ruby. Not only that, but his precious gemstones are also scheduled to be exhibited in the luxury hall of Lotte Department Store.
Chairman Park Ji-gon shared his aspirations:
