Public Officials in Korea Embracing Cryptocurrency

According to a recent disclosure, a report by the Korean government’s Public Officials Ethics Committee shows that a significant number of public officials are embracing cryptocurrency.

On March 27, the Korean government’s Public Officials Ethics Committee released regular updates on public officials’ assets for 2025. According to the Korean Cultural Daily, 411 out of 2,047 public officials (about 20.1%) hold cryptocurrency, valued at 14.4 billion won (around $9.8 million). Notably, two out of 10 high-ranking public officials hold virtual assets with an average holding of 35.07 million won per person.

Seoul City Councilor Kim Hye-young Tops The List

Among them, Seoul City Councilor Kim Hye-young tops the list, with impressive holdings of 1.7 billion won, approximately $1.27 million in digital assets. Council Member Kim owns 16 types of cryptocurrencies, including 0.00144591 Bitcoin. Additionally, her spouse and eldest son hold ETH, DOGE, and XRP. She reported holding 0.01226935 Ethereum, about 472 Dogecoins, and approximately 519,004 Ripples, alongside around 3,336 Ripples owned by her eldest son.

Seoul City Councilor Choi Min-gyu ranks second with reported assets of 1.62 billion KRW in virtual assets, including nearly 410,000 Ripples and thousands of Artidiums and Ads. Close behind is Kim Ki-hwan, CEO of Busan-Ulsan Expressway, with 1.43 billion KRW in crypto, holding over 150,000 Luna Classics and a range of other altcoins.

Growing Trend of Government Officials Investing In Crypto

Several high-ranking public officials including Kim Dae-hwan, Oh Moon-kyo, and Park Byeong-chun have significant cryptocurrency holdings. These officials are part of the top 10, with assets ranging from KRW 270 million to over KRW 1.3 billion. The disclosure of their crypto assets follows new regulations requiring public officials to report their holdings.

This marks a growing trend of government figures investing in virtual currencies, highlighting a shift in how traditional officials are engaging with the evolving financial landscape.