In South Korea, where there is intense interest in Bitcoin (BTC) and altcoins, cryptocurrencies have become an area of interest not only for individual investors but also for public officials.
It was revealed that some high-level government officials also invested in BTC and altcoins. According to South Korea’s local news agency Munhwa Ilbo, public officials declared their assets. Of 2,047 Korean government officials, 411 (20.1 percent) reported owning cryptocurrencies with a total value of KRW 14.4 billion (approximately $9.83 million).
Notable among these is Seoul City Council Member Kim Hye-young, who stated that she has 16 crypto investments, including Bitcoin, Ethereum (ETH), Dogecoin (DOGE), and XRP. Kim Hye-young topped the cryptocurrency investment list with a declared amount of 1.7 billion KRW (approximately $1.16 million).
Seoul City Councilor Choi Min-gyu came in second with 1.62 billion KRW (about $1 million) in crypto. Mim-gyu declared that he holds altcoins like XRP and Artidium. In third place was Busan-Ulsan Expressway CEO Kim Ki-hwan with 1.43 billion KRW in crypto, declaring that he owns over 150,000 Luna Classics (LUNC) and a number of other altcoins.
These investments reflect a growing trend among government officials to invest in cryptocurrencies, with public officials’ involvement in crypto generating both interest and controversy. The South Korean government aims to increase transparency and accountability by requiring public officials to disclose their crypto holdings.
*This is not investment advice.
