Cryptocurrency is experiencing significant growth in South Korea, driven more by the economic struggles of the younger generation than by enthusiasm for blockchain technology, according to expert Eli Ilha Yune. As of late March, over 16 million South Koreans are using crypto exchanges, representing more than 30% of the population. Yune highlighted that many traders are motivated by a desire for quick financial gains rather than a belief in Web3, contrasting this with Western attitudes. The newly elected President Lee Jae-myung is pushing for the integration of digital assets into the financial system, including support for domestic stablecoins. Despite the popularity of crypto among the youth, with the 'young rich' holding three times more than older generations, Yune noted that many are unaware of the underlying technology. High youth unemployment, coupled with soaring housing prices, has left young people seeking alternative investment opportunities, with crypto becoming a prominent option despite their limited understanding of it. Read more AI-generated news on: https://app.chaingpt.org/news