1 in 3 South Koreans Now Own Cryptocurrency, Reports Bank of Korea

South Korea’s Crypto Adoption Surges

Recent data reveals that over 30% of South Korea’s population now owns cryptocurrency, highlighting the rapid growth of the nation’s digital asset market. According to Yonhap News Agency, citing Democratic Party lawmaker Lim Kwang-hyun, the number of South Korean crypto investors reached 15.59 million by the end of November. This marked an increase of 610,000 investors compared to the previous month, fueled partly by optimism surrounding Donald Trump’s presidential election victory.

Crypto Holdings Reach Record Highs

South Korean investors now hold a record 102.6 trillion won (approximately $78 billion) in crypto assets, a significant jump from 58 trillion won in July. Although specific cryptocurrencies popular among investors were not disclosed, the average amount held per investor rose dramatically to 6.58 million won. This sharp increase underscores the growing confidence in digital currencies as a mainstream financial asset.

Trading Volumes Skyrocket

The daily trading volume on South Korea’s top five crypto exchanges—Upbit, Bithumb, Coinone, Korbit, and GoPax—reached nearly 15 trillion won in November. This figure rivals the daily trading activity of the nation’s stock markets, indicating cryptocurrency’s growing prominence in South Korea’s financial ecosystem.

Calls for Market Stability and Consumer Protection

Despite the rapid growth, concerns have been raised about the pace of the market's expansion. Lawmaker Lim Kwang-hyun urged the government to implement measures to ensure market stability and protect investors from potential risks. However, specific steps from regulatory authorities remain uncertain at this stage.

South Korea’s crypto boom reflects the increasing integration of digital assets into the nation’s economy, but balancing growth with regulation will be crucial to sustaining its momentum.