As of February 2025, the number of cryptocurrency investors in South Korea reached 16.29 million, representing a significant portion of the country's population. This trend showcases a sustained interest in digital assets among both private investors and government officials.
Growth in Investor Numbers
According to data submitted to Rep. Cha Gyu-geun of the Rebuilding Korea Party, South Korea's cryptocurrency investors reached 16.29 million. This figure was compiled from accounts at the country's top five domestic virtual asset exchanges: Upbit, Bithumb, Coinone, Korbit, and Gopax. In March 2024, the number of investors first surpassed 14 million, and following Donald Trump's election as U.S. President in November, another 500,000 people entered the market, pushing the total beyond 15 million.
Crypto Holdings Among Officials
According to a report by local media Munhwa, 20% of South Korean public officials who submitted asset declarations reported owning cryptocurrency. Of 2,047 officials who filed declarations, 411 disclosed direct cryptocurrency holdings or investments. These crypto-holding officials include the Secretary General of the Labor-Management Development Foundation, the President of the Korean National Police University, and the Vice President of the Korea Water Resources Corporation. The total value of cryptocurrency assets declared by these officials amounts to 14.41 billion Korean won (approximately $9.8 million), with an average holding of 35.07 million won ($23,927) per official.
Crypto Prospects and Regulation in South Korea
Industry experts are projecting continued expansion, anticipating the number of cryptocurrency investors will reach 20 million. Some believe the crypto market has reached a saturation point, but there is still an endless possibility for growth compared with the matured stock market. Despite this, South Korea has implemented strict regulations on cryptocurrency trading, including mandatory real-name verification for exchange accounts and comprehensive anti-money laundering provisions.
The growth in the number of cryptocurrency investors and significant participation by South Korean officials highlight the increasing importance of digital assets in the country's economy and society. Implementing strict regulations and ensuring wide access to cryptocurrency markets enable the country to maintain high levels of trust and safety for investors.
