Massive Number of Koreans Involved in Cryptocurrency Gambling: A Significant 70% Seeking to Increase Their Investments due to Concerns over Retirement
In South Korea, a noticeable shift has emerged in the world of cryptocurrency investment, as more individuals are viewing digital assets as a strategic component of their long-term financial plans. According to recent data, approximately 25% of South Koreans, particularly those between the ages of 20 and 50, now own cryptocurrencies, with the 40-year-old demographic showing a significant concentration in digital asset ownership[1][2].
The trend towards long-term investment strategies is evident, with more than half of investors in their 50s using cryptocurrencies as part of their retirement preparation[3]. A significant proportion of investors, 78%, view crypto as a means to create large savings, while 53% specifically invest for old age preparation[3].
The shift from speculative trading towards more calculated investment strategies is also evident. This is demonstrated by the increased proportion of regular and medium-term investors, while short-term investors have decreased[3]. The South Korean Financial Services Commission is further maturing the market by planning to introduce guidelines for institutional crypto investment by the third quarter of 2025, attracting serious institutional players[2].
For many young Koreans, cryptocurrencies aren't just seen as a tech revolution but rather, as a lifeline, as highlighted by Eli Ilha Yune, the CPO of Anzaetek[1]. The rising cost of housing and stagnant wages in many sectors have made traditional pathways to wealth out of reach for many young people in their 20s and 30s in South Korea.
The unemployment rate for young South Koreans is 6.6%, more than double the national average[4]. These factors could be contributing to the growing interest in cryptocurrencies as a means to generate wealth and secure financial stability.
Cryptocurrencies now represent 14% of the total financial portfolios of Koreans aged 20-50[3]. Additionally, 35% of respondents would be swayed by more legal protections and oversight in the cryptocurrency market[5]. Meanwhile, 42% of respondents would be more inclined to invest in cryptocurrencies with a greater participation from banks[6].
In conclusion, South Korea's crypto market is maturing, with a growing number of individuals incorporating cryptocurrencies into their long-term financial plans, including retirement savings. As the market continues to evolve, it will be interesting to see how it impacts the financial landscape in South Korea.
- The web3 movement, led by cryptocurrencies like Bitcoin and Ethereum, is becoming a significant component in South Koreans' personal-finance strategies, particularly for those between ages 20 and 50.
2.coin ownership is on the rise, with about 25% of South Koreans now investing in digital assets, with a notable increase among the 40-year-old demographic.
- Following a shift in investment strategies, more than half of investors in their 50s are now using cryptocurrencies for retirement preparation, reflecting a trend towards long-term investment.
- The majority, 78% of crypto investors, view digital assets as a means to create substantial savings, with 53% specifically focusing on old age preparation.
- The trend away from speculative trading towards more calculated investment strategies is apparent, as short-term investors have decreased and regular and medium-term investors have increased.
6.The South Korean Financial Services Commission is working to mature the market by planning to introduce guidelines for institutional crypto investment, attracting institutional players by the third quarter of 2025.
- For many young South Koreans, cryptocurrencies offer a lifeline, serving as an alternative pathway to wealth, given the high cost of housing, stagnant wages, and high unemployment rates among the younger generation.
8.The growing interest in cryptocurrencies as a means to generate wealth and secure financial stability is evidenced by the fact that they now represent 14% of the total financial portfolios of Koreans aged 20-50.
- As the cryptocurrency market in South Korea continues to evolve, it is expected to have a significant impact on the country's financial landscape, with potential consequences in areas such as technology, finance, and personal-finance management.
