When a Hodgson’s bat with red and yellow fur appeared at the abandoned Hampyeong Gold Mine in South Jeolla Province, South Korea in 1999, local authorities quickly saw an opportunity. This bat species was believed to be extinct in the “land of kimchi”.
At that time, Hampyeong County – located about 270km from Seoul – was still a rural area. The local government was struggling with a declining population and the need to increase revenue.
Seizing the opportunity of finding a rare bat colony in a cave, the idea of designing a giant bat statue began to take shape. After numerous discussions, by 2005, Hampyeong County officials decided to spend $2.1 million to purchase 162kg of gold and 281kg of silver to create a 2.13m tall statue.
Famous sculptor Byun Kun-ho was the “father” of this masterpiece. It took him 3 years to sculpt 5 golden bats flying in a circle made of large silver.
In describing his work, sculptor Byun believed it represented “harmony and eternity of the universe”. Of course, the cost did not stop at the aforementioned figures.
The artwork, placed in a specially built exhibition hall designed as a cave – the natural habitat of bats.
Alongside the statue, the author also placed a golden egg the size of a coffee table, made from the remaining gold and silver materials. The significance of the artwork was to honor the national heroes of Korea – said to be born from these golden eggs.
At that time, the local government believed the giant statue would bring the “splendor of ecological wonders” to the area, attracting a large number of tourists to the once struggling small county.
However, the statue immediately faced harsh criticism. Many believed that spending millions of dollars on a golden statue in a small, struggling county was “a waste”, even “ostentatious”.
A local newspaper called the move a “flamboyant but empty decision”, not in line with the local situation.
Unexpectedly, the fortune of Hampyeong County turned around. Today, local officials can confidently prove that the previous judgments were “mistaken”.
Currently, with gold and silver prices at record highs, experts estimate the statue’s value has soared to $11 million. It can be said that, just by “sitting in one place”, the statue has generated nearly 5 times profit, becoming the most profitable investment the region has ever seen.
But that’s not all.
Despite its remote location, the statue has attracted a large number of tourists. In recent weeks alone, about 15,000 people have visited, mainly domestic visitors.
“With the increase in gold prices, public interest in the statue has also grown. For just 2,000 won (35,000 VND) admission fee, this place has become an attractive tourist destination in our area,” a Hampyeong County representative shared with CNN.
Due to its high value, the statue has also attracted attention in an “unintended” way. In 2019, three men were arrested on charges of attempting to steal it.
Since then, Hampyeong County has added additional layers of protection, from motion sensors, high-resolution security camera systems, bulletproof glass, to steel shutters.
In the future, local officials are planning to move the statue to Hampyeong Exhibition Park for easier public access.
Although the value of the statue may be at its “highest of all time”, the region has no plans to sell it.
“We invested in construction with the intention of bringing cultural value, not to make profits,” a government official affirmed.
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