South Korea’s Crypto Surge: 16.3M Investors Fuel a $70B Market in 2025
South Korea’s cryptocurrency market has skyrocketed, with 16.3 million investors—over 30% of the population—holding accounts on major exchanges as of June 2025. This explosive growth, driven by Bitcoin’s climb past $100,000 and pro-crypto policy signals from U.S. President-elect Donald Trump, positions South Korea as a global crypto powerhouse. Trading volumes now rival the nation’s stock market, signaling a shift in how South Koreans invest.
From 14.98M to 16.3M: A Rapid Rise in Crypto Investors
The Bank of Korea reported 15.59 million crypto accounts by November 2024, up 610,000 from October’s 14.98 million, according to Yonhap News. By June 2025, this number reached 16.3 million, fueled by Bitcoin’s rally and altcoin trading. For a population of 51.23 million, this means one in three South Koreans now engages with crypto, outpacing traditional stock market participation, as noted by The BIT Journal.
Leading exchanges—Upbit, Bithumb, Coinone, Korbit, and GOPAX—host these accounts, with Upbit dominating as the largest platform. This surge reflects a cultural embrace of digital assets, particularly among younger investors.
November 2024: Trading Volumes Rival Stock Markets
November 2024 was a landmark month, with daily crypto trading volumes hitting 14.9 trillion won ($10.2 billion), up from 4.7 trillion won ($3.2 billion) in October. This nearly matched the combined volumes of KOSPI ($6.8 billion) and KOSDAQ ($4.7 billion). Total crypto holdings soared to 102.6 trillion won ($70.3 billion), a 76.9% jump from October’s 58 trillion won ($39.7 billion).
The average investor’s portfolio grew from 3.87 million won ($2,655) to 6.58 million won ($4,777), while exchange deposits doubled to 8.8 trillion won ($6 billion). These figures highlight the market’s growing maturity and investor confidence.
Key Drivers of South Korea’s Crypto Boom
Several factors are propelling this growth:
- Bitcoin’s Surge: Bitcoin’s price rose from 105 million won ($76,000) in October 2024 to 135.8 million won ($98,000) by November, surpassing $100,000 by late 2024, attracting new investors.
- Global Crypto Optimism: U.S. policies, like Trump’s Bitcoin reserve proposal, have boosted global sentiment, spilling over into South Korea.
- Kimchi Premium: Local demand has pushed crypto prices above global averages, drawing arbitrage traders.
- Young Investors: Over 60% of new investors are in their 20s and 30s, drawn to crypto’s high-risk, high-reward potential amid economic challenges.
Regulations: Can They Keep Pace?
The Virtual Asset User Protection Act, enacted in July 2024, addresses price manipulation and exchange security. However, a 2024 Upbit hack costing $50 million exposed vulnerabilities. The Financial Services Commission (FSC) is exploring Bitcoin spot ETFs, inspired by Japan’s regulatory shifts, and has delayed a 20% crypto tax until 2027 to retain investors.
Despite President Yoon Suk-yeol’s impeachment, Deputy Prime Minister Choi Sang-mok has prioritized blockchain innovation, ensuring regulatory stability. X posts suggest South Korea may legalize Bitcoin ETFs and launch a KRW-pegged stablecoin, further deepening its crypto ecosystem.
The Road Ahead: A Global Crypto Leader
With crypto trading volumes surpassing equities and 20% of South Koreans actively trading, the market shows no signs of slowing. The Korea Exchange’s push for crypto integration and retail demand signal growth, though institutional adoption lags. Blockchain pilots with Singapore and Switzerland position South Korea as a Web3 hub.
Balancing innovation and investor protection remains key. Follow The BIT Journal for updates, and join us on Twitter, LinkedIn, and Telegram for breaking crypto news.
Frequently Asked Questions (FAQs)
How many South Koreans invest in cryptocurrency in 2025?
Over 16.3 million South Koreans, or 30% of the population, hold crypto accounts on exchanges like Upbit and Bithumb as of June 2025.
What fueled the crypto investor surge in November 2024?
Bitcoin’s price jump from 105 million to 135.8 million won and pro-crypto U.S. policies added 610,000 new investors.
Which exchanges lead South Korea’s crypto market?
Upbit, Bithumb, Coinone, Korbit, and GOPAX dominate, hosting 16.3 million accounts.
How do crypto trading volumes compare to stocks?
In November 2024, crypto volumes hit 14.9 trillion won daily, nearly equaling KOSPI and KOSDAQ combined.
Are South Korea’s crypto regulations effective?
The Virtual Asset User Protection Act helps, but experts urge stronger safeguards against hacks and market manipulation.
The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.
Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.
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