According to a new report from the Hana Institute of Finance, more than a quarter of South Koreans aged 20 to 50 own digital assets. The report also indicates that cryptocurrency makes up 14% of their financial portfolios.
Interest in Cryptocurrency Across Age Groups
The report indicates that interest in cryptocurrency spans various age groups, with the highest participation among respondents in their 40s at 31%. Interest in the 30s is 28%, and in the 50s is 25%. Bitcoin remains the most popular investment, held by 60% of investors, although many also turn to altcoins and stablecoins.
Cryptocurrency as a Wealth Accumulation Tool
78% of respondents in their 50s view cryptocurrency as a means to accumulate wealth, while 53% use it to prepare for retirement. Investors increasingly cite growth potential, diversification benefits, and structured savings plans as key reasons for cryptocurrency investment. The interest in expanding crypto holdings remains strong, with 70% of respondents planning to increase their investments.
Economic Challenges and Lack of Trust
Despite the enthusiasm, the report notes significant concerns about market volatility, with 56% of respondents citing it as a key worry. Many investors have also expressed concerns about exchange reliability and fraud risks. Eli Ilha Yune, chief product officer at Anzaetek, noted that South Korea’s crypto boom is driven more by financial desperation than optimism about blockchain technology.
Thus, cryptocurrency is becoming an important tool for South Koreans seeking ways to accumulate wealth and secure their futures, especially in the face of economic challenges.
