Data submitted to Rep. Cha Gyu-geun of the Rebuilding Korea Party reveals that as of February, South Korea has approximately 16.29 million cryptocurrency investors.
This number accounts for nearly 32% of the nation’s population. The information, gathered from accounts at the five leading domestic virtual asset exchanges – Upbit, Bithumb, Coinone, Korbit, and Gopax – indicates steady growth throughout 2024.
The crypto investor count first exceeded 14 million in March 2024. Following Donald Trump’s election as U.S. President in November, an additional 500,000 individuals entered the market, bringing the total past 15 million.
Experts in the industry foresee ongoing growth, with predictions that the number of cryptocurrency investors could soon hit 20 million. “While some argue that the crypto market may be nearing saturation, there remains significant potential for growth when compared to the more established stock market,” an industry representative noted.
20% of South Korean officials invest in cryptocurrency
A recent local media report indicated that 20% of South Korean public officials who filed asset declarations reported owning cryptocurrency. Out of 2,047 officials who made declarations, 411 admitted to direct cryptocurrency holdings or investments.
This group of officials includes prominent government 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 their declared cryptocurrency assets reaches 14.41 billion Korean won (around $9.8 million), resulting in an average holding of 35.07 million won ($23,927) per official.
Seoul City Councilor Kim Hye-young holds the largest reported cryptocurrency assets. According to the Government Public Ethics Committee’s publicly disclosed report on the personal assets of South Korean public officials as of 2025, his assets were valued at 1.7 billion KRW.
The significant adoption of cryptocurrency among government officials may indicate a more favorable regulatory outlook, despite the fact that South Korea has enforced strict regulations on cryptocurrency trading in recent years. These measures include mandatory real-name verification for exchange accounts and extensive anti-money laundering regulations.