Cryptocurrency is booming in South Korea, but below the surface, according to a local expert, is less than optimism than the economic frustration of its younger generation.
Crypto exchange Users in South Korea have crossed 16 millionAfter promoting US President Donald Trump’s election victory last November, according to data from the end of March. This figure represents more than 30% of the country’s population.
Nevertheless, recent comments from Quantum Machine Learning Startup Anzaetek’s Chief Product Officer Elli Ilha Yun in the German Blockchane Week, suggests that this is not the result of local population enthusiasm for blockchain technology. He explained during a “Asia Insights” panel that there are many “crypto traders” in Korea.
Yun said that “the motive does not come from (…) (…) in the West has faith in web 3 (…).” Instead, he attributes it to the younger generation financial frustration, which pushes them to look for “quick money”.
Yun’s comment comes in the form of newly elected President Lee J-Mung Pledge to integrate digital assets In South Korea’s financial system, with bold plans for institutional crypto integration.
This also includes support for Issue of domestic stabcoinAllegedly saying that he is with the head of the central bank of South Korea Not against the country issuing a Korean von-based stabecon,
Connected: South Korea to check the fees of local crypto exchanges
South Korea’s serious condition
Crypto’s popularity among younger generations is not new, and 2025 Korea Wealth Report Show The “young rich” has three times more crypto than 45 rich. In addition, according to the local, 34% of the local high-net-trunk person already own Crypto. Reports,
Nevertheless, according to this, it is not inspired by extensive faith in Crypto’s ability among the youth of South Korea. He said that South Korea is used for a high-development economy, which found itself unable to maintain speed, making the younger generations unemployed.
Youth unemployment for people aged 15 to 29 in South Korea stood At 6.6% in May, the total 2.7% of the unemployment rate doubled.
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False out of real estate reach
Yun admitted that the stock would be the first option for South Korean youth. Nevertheless, he said that “they don’t see a lot of returns.” Housing is also out of access to both personal needs and as investment, Yun said:
“They can no longer buy a house, or even the fare is too much for them. So their only option is to crypto.”
The price of Median Seoul apartment has doubled in five years, 1 billion live ($ 689,000), and the price-to-I ratio for the city Allegedly 15.2. “So that’s why a lot (…) Crypto traders and why I am saying that they are not really interested in (crypto),” Yun said.
Yun said “there are definitely exceptions,” but said that “many of them are not even aware of the infrastructure or technology included in the crypto.
magazine: Korea to lift corporate crypto ban, beware of crypto mining HDS: Asia Express
