A survey by the Hana Financial Research Institute shows that 27% of South Koreans aged 20-59 own digital assets.

Additionally, 70% of respondents plan to increase their crypto holdings in the coming year.

The survey included 1,000 participants and indicates growing interest in cryptocurrencies across various demographic groups.

The highest percentage of crypto ownership was found among individuals in their 40s, accounting for 31% of holders.

Men are twice as likely as women to own digital assets, a trend consistent across all age groups.

Motivations for investing vary; younger respondents prefer high-risk trading, while over half of those in their 50s cite retirement planning as their main reason.

The growing interest in digital assets aligns with rising enthusiasm for companies linked to won-based stablecoins. Recently elected President Lee Jae Myung has pledged to legalize these assets, which proponents argue could lower trade costs and diversify foreign exchange risks.

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🔗 Source: The Block

🧠 Food for thought

1️⃣ South Korea’s crypto enthusiasm stems from long-established digital consumption habits

South Korea’s high crypto adoption rates aren’t a new phenomenon but are built on a foundation of digital consumption that predates the current crypto boom.

As early as 2017, South Koreans spent over $3 billion on digital goods in the Google Play store, demonstrating a population already comfortable with digital value exchanges 1.

By 2018, South Korea had emerged as the third-largest cryptocurrency market globally (behind only the US and Japan), with approximately one-third of salaried workers already engaging in crypto trading 2.

The country’s dense urban environment, particularly in Seoul, facilitates rapid information sharing about investment opportunities, accelerating adoption trends 1.

The current survey showing 27% ownership merely confirms the continuation of a deep-rooted pattern rather than representing a new development in Korean investment behavior.

2️⃣ Age-specific investment motivations reveal crypto’s mainstream evolution

The significant ownership among Koreans in their 40s (31%) and 50s (25%) challenges the stereotype that crypto is primarily a young person’s investment vehicle 3.

The survey reveals a notable shift in investment strategy with 53% of investors in their 50s citing retirement preparation as their primary motivation for crypto investing, marking a transition from pure speculation to long-term financial planning 4.

This maturation is further evidenced by changing trading behaviors, with regular purchases increasing from 10% to 34% and mid-term trading rising from 26% to 47%, suggesting more strategic approaches to crypto investing 4.

The diversification beyond Bitcoin into a broader range of assets indicates growing investor sophistication, though Bitcoin remains the dominant choice with 60% of investors including it in their portfolios 4.

These patterns demonstrate how crypto has evolved from a speculative fringe asset class to an increasingly normalized component of diversified investment portfolios across age groups.

3️⃣ South Korea’s proactive stablecoin regulation positions it ahead of global competitors

South Korea’s Digital Asset Basic Act represents a significant regulatory advancement by providing clear frameworks for stablecoin issuers, while the US is still debating its GENIUS Act, potentially giving Korea a first-mover advantage 5.

The Korean legislation requires issuers to maintain reserves for refunds and secure approval from the Financial Services Commission, establishing consumer protections that could become a model for other jurisdictions 5.

President Lee Jae-myung’s support for won-based stablecoins is strategically motivated by aims to retain national wealth and reduce reliance on foreign stablecoins, particularly dollar-backed assets 6.

The Bank of Korea has taken a leading role in stablecoin regulation while remaining cautious about potential capital outflows, demonstrating a balanced approach to innovation and financial stability 7.

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