One in Five South Korean Officials Owns Cryptocurrency: Total Assets Exceed $9.8 Million

According to the latest report on virtual asset holdings among South Korean public officials, 20.1% of high-ranking government employees own cryptocurrency, with their combined assets totaling $9.83 million.

Top Crypto Holders Among Officials

The leader in the ranking is Seoul City Council member Kim Hae-young, who declared digital assets worth $1.16 million. Her portfolio includes 16 cryptocurrencies, such as 0.00144591 BTC. She also reported holdings belonging to her family members:

• 0.01226935 ETH, 472 DOGE, and 519,004 XRP — owned by her husband,

• 3,336 XRP — owned by her eldest son.

In second place is Seoul City Council member Choi Min-gyu, with $1.06 million in crypto, including 409,551 XRP, 9,402 ART, and 4,701 ADS.

Kim Ki-hwang, CEO of Busan-Ulsan Expressway Co., Ltd., took third place, reporting $940,000 in digital assets, among them 152,251 LUNC, 5,979 HORUS, and 2,989 BLACK.

Top 10 Government Crypto Investors

Other high-ranking officials in the top 10 include:

1. Kim Dae-hwan (Secretary General of the Labor-Management Development Foundation) — $1.369 million

2. Oh Moon-gyo (President of the Korean National Police University) — $656,680

3. Park Joon (President of Jeonju National University of Education) — $461,250

4. Choi Yong (Member of the Gyeonggi Provincial Council) — $431,110

5. Ryu Hyun-joo (Vice President of the Korea Water Resources Corporation) — $324,530

6. Lee Oh-soo (Member of the Gyeonggi Provincial Council) — $288,150

7. Park Yong-sun (Member of the North Gyeongsang Provincial Council) — $270,350

Transparency Policy: Crypto in Asset Declarations

Since 2023, virtual assets have been a mandatory disclosure item for public officials. Under the new rules:

• Officials of Grade 4 and above must report the type and quantity of their crypto holdings.

• Grade 1 officials must additionally disclose the source of acquisition and transaction history from the past year.

These measures were introduced amid the growing popularity of cryptocurrencies in South Korea. According to November 2024 data, over 15.5 million citizens (around 30% of the population) own digital assets, with the number of investors increasing by 610,000 in just one month.

Thus, cryptocurrencies are becoming an increasingly significant part of South Korea’s financial landscape—including within the government sector.

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