Majority of Koreans Plan to Boost Crypto Investments Amid Policy Momentum (Image supported by ChatGPT)
SEOUL, June 10 (Korea Bizwire) — As South Korea’s new administration moves to position the country as a global hub for digital assets, a majority of Koreans say they plan to increase their investment in cryptocurrencies and related financial products, according to a nationwide survey released Monday.
The Korea Chamber of Commerce and Industry (KCCI) surveyed 2,259 adults and found that 57.9 percent of respondents intend to expand their investments in digital assets such as cryptocurrencies. Another 27.6 percent said they would maintain current levels, while 14.5 percent indicated plans to reduce their holdings.
Anticipation surrounding the government’s upcoming policies—including the enactment of a Digital Asset Basic Act and potential approval of spot cryptocurrency ETFs—was the top reason cited (28.6%) for increased investment interest.
Other motivators included the U.S. government’s crypto-friendly stance (22.6%), a domestic delay in digital asset taxation (20.4%), weak returns from traditional assets (17.5%), and a lack of other investment opportunities (10.4%).
The public also overwhelmingly believes in the economic potential of digital assets. 78.2 percent said they expect the digital asset sector to positively impact the South Korean economy.
Government Policies Fuel Koreans’ Interest in Cryptocurrency Investment (Yonhap)
Key drivers cited include job creation and the development of new industries such as blockchain (28.2%), promotion of digital financial innovation (24.6%), easing real estate-centered investment concentration (20.4%), and building financial infrastructure aligned with global trends (12.8%).
Despite lingering concerns about the volatility and risks associated with digital assets, 58.4 percent of respondents favored deregulation, compared to 41.6 percent who supported tighter controls.
Among those advocating for deregulation, the leading rationale was improved capital inflow and investor access (52.9%), followed by enhancing global competitiveness (25.4%) and accelerating technological innovation (17.1%).
The survey also highlighted key policy priorities to advance the sector. These included enacting the Digital Asset Basic Act (26.3%), introducing spot crypto ETFs (20.9%), establishing a regulatory framework for stablecoins (15.6%), legalizing tokenized securities (13.6%), clarifying the tax structure for digital assets (13.0%), and allowing institutional investments in crypto (10.5%).
Lee Jung-doo, a senior researcher at the Korea Institute of Finance, noted that while South Korea began implementing the Virtual Asset User Protection Act in July 2024, its focus remains largely on safeguarding investors and regulating digital asset businesses. He called for broader legislation to support digital asset innovation across multiple sectors.
“Digital assets are increasingly seen as both an investment and transaction medium for the future,” said Kang Suk-goo, director of research at KCCI. “South Korea must build a solid regulatory foundation to integrate into the global financial system and harness digital assets as a new engine for economic growth.”
M. H. Lee (mhlee@koreabizwire.com)
