More than 10,000 South Korean crypto investors now hold digital assets exceeding 1 billion won ($750,000) across domestic exchanges, with young investors in their 20s maintaining the highest average holdings despite representing the smallest demographic group.
According to the Korean Times, the data showed that one in five Koreans actively trades cryptocurrencies.
Financial Supervisory Service data submitted to lawmakers reveals 10,810 users across Korea’s five major exchanges, including Upbit, Bithumb, Coinone, Korbit, and GOPAX, each held assets surpassing the 1 billion won threshold as of August 5.
These crypto millionaires maintain average balances of 2.23 billion won, approximately 217 times the overall user average of 10.27 million won.
The demographic breakdown reveals that investors in their 50s dominate by numbers, with 3,994 individuals, followed by those in their 40s with 3,086 participants.
Source: YNA
However, despite comprising only 137 individuals, investors in their 20s lead by average holdings at 2.69 billion won per person, surpassing all other age groups significantly.
Korea’s total crypto trading population has reached 10.86 million active accounts capable of trading, representing roughly 20% of the nation’s 51.7 million population.
Collectively, these users hold digital assets worth 111.6 trillion won, with Upbit commanding 76% of millionaire investors despite holding 52% market share across the top five exchanges.
President Lee Jae-myung’s administration has designated crypto market development as a “key national task” within its five-year state administration plan, prioritizing stablecoin regulations and institutional trading reforms.
The Presidential Committee on State Affairs identified “construction of a digital asset ecosystem” among 123 critical government objectives, signaling unprecedented regulatory support.
In fact, in July, the government is already moving to reclassify crypto trading firms as “venture companies,” granting access to tax incentives, subsidies, and state-backed financing previously denied since 2018.
The Ministry of SMEs and Startups proposed amendments to include Virtual Asset Service Providers under venture company status, potentially reversing policies that previously categorized crypto firms alongside gambling venues.
Financial regulators have lifted restrictions on institutional crypto investments while preparing to approve Korea’s first spot cryptocurrency ETFs.
