A new report by Hana Institute of Finance indicates that more than a quarter (27%) of South Koreans in their 20s to 50s now own cryptocurrency. The study, titled ‘2050 Generation’s Virtual Asset Investment Trends,’ revealed that, of this 27%, 70% planned to increase their investments.
Crypto holdings make up 14% of the financial portfolios of the study’s respondents. Interest in crypto spans all age groups, with the highest participation among people in their 40s (31%), followed by those in their 30s (28%) and 50s (25%).
78% of those in their 50s said they use crypto to build savings, while 53% are investing in digital assets as part of their retirement plans, citing growth potential, diversification, and structured savings.
The report also found that 70% of respondents are interested in expanding their crypto investments. Around 42% said they would invest more if traditional financial institutions increased their involvement, boosting confidence in the crypto market, while 35% pointed to stronger legal protections.
Bitcoin remains the most popular digital asset, with 60% of investors holding BTC. As investors gain experience, many diversify into altcoins or stablecoins. However, non-fungible tokens (NFTs) and security tokens (STOs) remain niche, with 90% of investors sticking exclusively to coins.
Yoon Sun-young, a researcher at Hana Financial Research Institute, said that “Virtual assets play a major role within investors’ portfolios”.
One major concern is a regulation that limits users to linking only one bank account with crypto exchanges. About 70% of respondents said they would prefer to use their main bank if this rule were relaxed.
Despite growing adoption, 56% of investors still worry about market volatility. Concerns over fraud and exchange security are also more common among those hesitant to invest further.
Meanwhile, some analysts suggest South Korea’s crypto boom is driven by financial pressure rather than optimism about blockchain technology. Eli Ilha Yune, chief product officer at Anzaetek, said that many young Koreans are turning to crypto out of desperation for fast profits.
Youth unemployment in South Korea stands at 6.6%, more than twice the national average. As traditional investments fail to deliver strong returns and homeownership becomes out of reach, many see crypto as the only viable path to financial progress.