South Korea has experienced remarkable growth in cryptocurrency investments in recent years. According to data submitted to Representative Cha Gyu-geun of the Rebuilding Korea Party, the number of cryptocurrency investors reached 16.29 million as of February 2025—approximately 32% of the country’s population. This figure was compiled using information from the nation’s five leading virtual asset exchanges: Upbit, Bithumb, Coinone, Korbit, and Gopax.
Historical Growth and Trends
The market began showing steady growth in March 2024 when the number of investors first surpassed 14 million. After the November 2024 U.S. presidential election, an additional 500,000 investors joined the market, pushing the total to over 15 million. Industry experts project continued expansion, with some anticipating that the number of cryptocurrency investors could soon reach 20 million. One industry official noted that although some believe the market is nearing saturation, the growth potential remains significant compared to the mature stock market (The Korea Herald).
Involvement of Public Officials
Another notable aspect is the significant involvement of public officials in the cryptocurrency sector. According to a recent report by South Korean media outlet Munhwa, about 20% of public officials who submitted asset declarations reported owning cryptocurrency. Out of 2,047 declared officials, 411 confirmed direct investments in digital assets. This group includes high-ranking figures such as 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 declared cryptocurrency assets amounts to approximately 14.41 billion Korean won (around 9.8 million USD), averaging about 35.07 million won (roughly 23,927 USD) per official. The largest holdings were reported by Seoul City Councilor Kim Hye-young, with personal assets valued at 1.7 billion won (Government Public Ethics Committee).
Regulatory Framework
Despite the rapid expansion of the cryptocurrency market, South Korea continues to enforce strict regulations to ensure a secure and transparent trading environment. Mandatory real-name verification for exchange accounts and comprehensive anti-money laundering measures are among the key policies implemented. These regulations are designed to reduce risks and foster stability within the rapidly evolving digital asset market.
FAQ
Q1: What percentage of South Korea’s population are cryptocurrency investors?
A1: As of February 2025, approximately 32% of South Korea’s population has invested in cryptocurrency.
Q2: Which exchanges provide the data on cryptocurrency investments in South Korea?
A2: The data is based on information from the country’s top five virtual asset exchanges: Upbit, Bithumb, Coinone, Korbit, and Gopax.
Q3: What measures are in place to regulate cryptocurrency trading in South Korea?
A3: South Korea enforces strict regulatory measures including mandatory real-name verification on exchange accounts and comprehensive anti-money laundering protocols to ensure market transparency and security.
