Hana Financial Research Institute: 71% of South Koreans Wish to Purchase More Cryptocurrency
The survey shows that 71% of South Koreans wish to purchase more cryptocurrency, especially among those aged 20 to 50 who mainly work in white-collar jobs, with about a quarter of them already owning cryptocurrency.
This report released by the Hana Financial Research Institute analyzes the tendencies and future intentions of investors, finding that 27% of respondents own cryptocurrency, with an average investment amount of about 10 million won (approximately $7,400), accounting for 14% of their investment portfolio.
In this survey, the average age of participants is between 30 and 40 years old. Although men are more active in the investment field, the number of women participating in the cryptocurrency sector has steadily increased since the beginning of 2024.
FOMO (Fear of Missing Out) is the main reason investors choose cryptocurrency, but this trend has decreased from 57% to 34%. Moreover, the vast majority of investors prefer to invest in Bitcoin (89%), but as trading experience increases, investors are turning to other cryptocurrencies, especially stablecoins.
Currently, the main challenge investors face is the limited number of banks cooperating with exchanges. If regulations are relaxed, 70% of investors prefer to choose local banks. Therefore, when selecting an exchange, they prioritize the convenience of the exchange's connection with banks.
The survey shows that 43% of respondents plan to continue investing in crypto assets, 28% have a moderate willingness, and 70% have an interest in crypto assets above the average level. 56% are concerned about the price volatility of cryptocurrencies, and 61% worry about exchange bankruptcies and fraud risks.
Further data indicates that if more traditional finance (TradFi) companies participate (42%) and more legal frameworks are established (35%), crypto investments will receive a more positive evaluation.
Interestingly, a previous survey found that about 20% of South Korean officials also own cryptocurrencies, indicating that as public interest rises, officials are also starting to adopt cryptocurrencies.
South Korea has quietly become one of the most prosperous cryptocurrency markets, with a significant portion of the population investing in digital assets. Just this year, South Korea's stablecoin trading volume surged to 57 trillion won (approximately $42 billion), a trend that has prompted the South Korean central bank to continue developing a won stablecoin plan.
