2-6-2025 – In South Korea, citizens are casting their votes in a pivotal presidential election, with the cryptocurrency sector emerging as a key battleground for the leading candidates. Both frontrunners, Lee Jae-myung and Kim Moon-soo, have unveiled bold pledges to bolster the nation’s thriving digital asset industry, aiming to capture the attention of a tech-savvy electorate.
The country boasts one of the world’s most vibrant crypto markets, with around 18 million people—over a third of the population—actively trading digital currencies. Remarkably, trading volumes on some South Korean crypto exchanges have at times eclipsed those of the nation’s stock market. According to the Bank of Korea, the value of crypto assets held by South Koreans reached $74.5 billion by the close of last year, underscoring the sector’s economic weight.
Lee Jae-myung, a prominent contender, has outlined an ambitious vision to modernise South Korea’s financial landscape. He proposes legalising spot cryptocurrency exchange-traded funds (ETFs) and permitting the country’s $884 billion pension fund to allocate investments into digital assets. Additionally, Lee champions the broad adoption of stablecoins tied to the Korean won, a move he believes will strengthen the financial system and stem the tide of capital leaving the country.
Meanwhile, Kim Moon-soo has also committed to loosening regulatory constraints on cryptocurrencies, promising to broaden access to digital assets. Both candidates’ focus on liberalising the crypto market reflects its growing significance in South Korea, where innovation and economic opportunity are at the forefront of the electoral discourse.
