South Korean Officials’ Crypto Stash: Who’s HODLing What? 🤔

by

So, apparently, 20% of South Korean public officials are into crypto. That’s right, 411 out of 2,047 officials decided to declare their digital fortunes. And let me tell you, it’s not just pocket change. We’re talking 14.4 billion Korean won here. 🤑

According to some local media report, the Government Public Ethics Committee spilled the beans on March 27. They revealed the personal assets of these officials as of 2025. And guess what? Crypto is the new black. From the Secretary General of the Labor-Management Development Foundation to the Vice President of the Korea Water Resources Corporation, everyone’s got their hands in the crypto cookie jar. 🍪

The total worth of these crypto assets? A cool 14.41 billion Korean won, or $9.8 million for those who prefer dollars. On average, each official is sitting on 35.07 million Korean won ($23,927). Not too shabby, huh? 😏

But wait, there’s more! The queen of crypto in this bunch is Seoul City Councilor Kim Hye-young. She’s holding a whopping 1.76 billion Korean won ($1.2 million) in 16 different types of crypto. Bitcoin, Ethereum, Dogecoin, Ripple—you name it, she’s got it. And her family? They’re in on it too. Her husband’s got some ETH, DOGE, and XRP, while her eldest son is holding onto 3,336 XRP. Talk about a family affair! 👨‍👩‍👦

Coming in second is another Seoul City Councilor, Choi Min-gyu, with 1.6 billion Korean won ($1.09 million) in crypto. And rounding out the top three is Kim Ki-hwan, CEO of Busan-Ulsan Expressway Co., with 1.4 billion Korean won ($955,031). These guys are making Wall Street look like amateurs. 💼

This is the second year South Korean public officials have had to disclose their crypto holdings. Back in May 2023, regulators passed a bill making it mandatory. Since January 1, 2024, high-ranking officials, including National Assembly members, have had to report their crypto assets. And it’s not just a simple “I own some Bitcoin.” Oh no, Grade 1 officials have to explain how they got their crypto and provide a detailed transaction history. Talk about invasive! 🕵️‍♂️

So, there you have it. South Korean officials are HODLing like there’s no tomorrow. Who knew politics could be so… crypto? 🤷‍♂️

Read More

2025-03-27 10:48