Oh Jin-hyek ended South Korea's long wait for a men's individual Olympic title with a stunning display to defeat Japan's Takaharu Furukawa 7-1 in the final at Lord's.
Despite being the sport's dominant nation for 20 years, the men's gold has so far eluded the Koreans, whose prospects took a blow when top seed Im Dong-hyun was knocked out.
A third Korean, second seed Kim Bubmin, also bowed out before the medal matches as he was defeated 6-5 by China's Dai Xiaoxiang, but Oh shot nervelessly to ensure a third gold from a possible four for his country at London 2012.
Dai took the bronze, his country's first individual men's medal, after seeing off Holland's Rick van der Ven on yet another shoot-off.
Van der Ven, looking to replicate his coach Wietse van Alten, who finished third in Sydney 12 years ago, produced the upset of the day to take out Im in the last 16.
But he was edged off the podium when Dai settled their match with a 10 in the one-arrow decider.