Surge in South Korean Crypto Investors

A survey carried out on March 21st across five South Korean crypto exchanges revealed that the number of domestic crypto investors increased by over 50% last year. The amount of crypto owned by South Korean investors is currently worth over 105 trillion won.

According to reports from local media outlet Donga, data received by Democratic Party lawmaker Ahn Do-Jae from five domestic crypto exchanges, including Upbit, Bithumb, Coinone, Korbit, and Gopax, indicated that there were 9,667,023 investors who had trading accounts on these exchanges at the end of last year. This represents a 52.6% increase (3,333,439 people) in the total number of South Korean crypto investors.

Increase in Elderly Investors

The number of crypto investors in their 50s and 60s rose significantly, reaching 1.75 million by the end of last year, up 56.4% year-on-year. Notably, the number of investors over 60 years old also climbed sharply, from 371.8K to 636.7K, reflecting an increase of 52.6%.

Statistics on Crypto Investment by Age Group

• Total Crypto Investors: 9.66 million
• Investors aged 50+: 1 in 4
• High-net-worth Investors (>1B KRW): Half are aged 50+
• Big Investors: Average over 50 years old owns 2.15 billion won in crypto

Na Yoon-jae from the Satoshi Club Alerts on March 22 noted the significant demographic shifts within the crypto investor community, highlighting the growing participation of older investors.

Regulatory Considerations

Jess Zeng, mETH protocol ecosystem lead, emphasized that South Korea is among the Asian countries embracing institutional crypto investments. However, Rep. Ahn Do-Jae called for a rapid establishment of a minimum regulatory basis to protect investors, particularly older ones. He mentioned further that comprehensive measures were necessary for market stability and investor rights protection.

Bank of Korea Data

The Bank of Korea’s data indicated a total of 15.59 million cryptocurrency investors in South Korea as of November, representing approximately 30% of the population. This marks a rise of 610K from the previous month. The total market value of crypto held by Korean investors reached 102.6 trillion won by December 25, 2024.

A striking increase in crypto transactions was observed, averaging 14.9 trillion won daily, closely matching domestic stock market volumes.

In the first half of 2024, the number of crypto investors jumped by 21% year-on-year to 7.78 million, about 15% of South Korea’s population. Daily trading volume of crypto rose by 67% to 6 trillion won, and the market value of crypto in South Korea grew by 27% to 55.3 trillion won.