In South Korea, there is a significant rise in interest in cryptocurrencies, especially among the younger generation. However, this trend is not based on faith in technology but on the economic problems faced by young people.
Rise in Cryptocurrency Popularity
As of late March, more than 16 million South Koreans—over 30% of the population—are users of crypto exchanges. This increase is partly due to market optimism following Donald Trump’s U.S. election victory last November.
Economic Realities of Youth
The economic pressure on South Korea’s youth is intense. The youth unemployment rate (ages 15–29) stood at 6.6% in May, more than double the national average. Soaring real estate prices have further limited financial options. The median price of an apartment in Seoul has now surpassed 1 billion won ($689,000), with a price-to-income ratio of 15.2—placing home ownership out of reach for most young people.
Crypto as a Means of Survival
Eli Ilha Yune, Chief Product Officer at quantum AI startup Anzaetek, highlights that many young Koreans turn to cryptocurrencies out of necessity rather than enthusiasm. He stated, 'The motive comes not from a belief in Web3 like in the West but from financial desperation and the hope for quick gains.' The 2025 Korea Wealth Report supports this trend, revealing that the country’s 'young rich' hold three times more crypto than older high-net-worth individuals.
Thus, South Korea’s cryptocurrency boom reveals a generational crisis where digital assets are seen less as innovation and more as economic survival.
