Several hundred South Korean officials hold crypto assets worth a total of 14.4b Korean won

A recent report by South Korean media outlet Munhwa reveals that 20% of the 2,047 public officials who submitted asset declarations in 2025 own cryptocurrency. This represents 411 officials holding a collective 14.41 billion Korean won ($9.8 million) in various crypto assets. The average holding per official is 35.07 million Korean won ($23,927).

Seoul City Councilor Kim Hye-young holds the largest crypto portfolio, valued at 1.7 billion KRW ($1.2 million). This diverse portfolio includes Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), and other cryptocurrencies. Councilor Kim's holdings include 0.0014 BTC, while her husband owns 0.01 ETH, 472 DOGE, and 519,040 XRP. Their eldest son also holds 3,336 XRP.

Seoul City Councilor Choi Min-gyu holds the second largest amount, with 1.6 billion KRW ($1.09 million) in crypto assets. Kim Ki-hwan, CEO of Busan-Ulsan Expressway Co., holds the third largest amount, at 1.4 billion KRW ($955,031). Other high-ranking officials with crypto holdings include the Secretary General of the Labor-Management Development Foundation, the President of the Korean National Police University, and the Vice President of the Korea Water Resources Corporation.

This is the second year South Korean public officials have been required to disclose virtual asset holdings to the Government Public Ethics Committee. A bill passed in May 2023 mandated this disclosure for public officials and political candidates, effective January 1, 2024. Grade 4 officials must disclose the quantity and type of cryptocurrency held, while Grade 1 officials must provide a detailed account of their acquisitions and transaction history.