20% of Senior Public Officials in South Korea Hold Cryptocurrency, with an Average Holding Value of 35.07 Million KRW

According to a report by the South Korean media outlet “Cultural Daily,”

based on the property declaration data for public officials released by the South Korean Government Ethics Committee on Thursday, among the 2,047 senior public officials required to disclose their assets, 411 individuals (approximately 20.1%) reported holding cryptocurrency, with a total value of 14.41228 trillion Korean Won (approximately 326 million New Taiwan Dollars). The average amount held per person is about 35.07 million Korean Won (approximately 793,000 New Taiwan Dollars).

The senior public official holding the most cryptocurrency in South Korea is Seoul City Council member Kim Hye-young,

whose total cryptocurrency holdings are valued at approximately 1.7656 billion Korean Won (about 39.91 million New Taiwan Dollars). She personally holds 16 different types of cryptocurrencies, including 0.00144591 Bitcoin (BTC). Additionally, her spouse possesses 0.01226935 Ether (ETH), 472 Dogecoins (DOGE), and 519,004 Ripple coins (XRP), while her eldest son holds 3,336 Ripple coins.

Since last year, cryptocurrency has been included in the asset categories that public officials in South Korea must declare.

Public officials at level four and above are required to disclose the types and amounts of cryptocurrency they hold, while officials at level one and above must further provide information on how their assets were acquired and any transaction records from the past year.

Related Reports:

“South Korea Prepares to Lift Ban on Institutional Investment in Cryptocurrency, New Guidelines to Be Released in the Third Quarter”

“Hashed Survey: One in Four Adults in South Korea Own Cryptocurrency, More People Holding Positive Views”

“Middle-aged and Elderly South Koreans Begin Using Retirement Funds to Buy Cryptocurrency, Bank Deposit Balances Decline Sharply or Flow to Cryptocurrency Markets and U.S. Stocks”