According to a new report from the Hana Institute of Finance, over a quarter of South Koreans aged 20 to 50 own digital assets, with interest in cryptocurrency spanning all age groups.
Overview of Crypto Investments in South Korea
The report titled *2050 Generation’s Virtual Asset Investment Trends* indicates that 27% of South Koreans aged 20 to 50 hold cryptocurrency. Interest in crypto investments is expressed across all age groups: 31% among respondents in their 40s, 28% in their 30s, and 25% in their 50s. Additionally, the average share of crypto investments constitutes 14% of total financial portfolios.
Changes in Investment Patterns
Investment habits are also evolving. The proportion of investors making regular cryptocurrency purchases has increased from 10% to 34%, while mid-term trading rose from 26% to 47%. Conversely, short-term trading has slightly decreased. Investors are now increasingly relying on official exchanges and analytical platforms for information, while reliance on word-of-mouth has declined.
Economic Reasons for the Rise in Interest in Cryptocurrencies
According to Eli Ilha Yune, a chief product officer at Anzaetek, the surge in interest in cryptocurrency in South Korea is not driven by optimism regarding blockchain technology but rather reflects financial desperation. The youth unemployment rate in the country stands at 6.6%, which is more than double the national average. With limited opportunities in the traditional job market, cryptocurrencies have become the only viable investment option for the younger generation.
The rising interest in cryptocurrencies among South Koreans vividly reflects the economic realities and social challenges faced by the younger generation. The increase in the proportion of investments in crypto assets may also indicate further development and institutionalization of this market.
