A report from Munhwa on March 27 revealed that the Government Public Ethics Committee in South Korea disclosed the personal assets of public officials.
It found that 20% of public officials, or 411 out of 2,047, either directly hold or have invested in cryptocurrency.
Among the officials with crypto holdings are prominent figures, including 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. These disclosures highlight the growing involvement of public leaders in the digital economy.
The total value of crypto assets held by the 411 officials reached 14.41 billion Korean won (approximately $9.8 million), with the average holding per official standing at 35.07 million Korean won ($23,927). This indicates a significant presence of cryptocurrency in South Korea’s government sector.
Seoul City Councilor Kim Hye-young leads the pack, whose crypto holdings are valued at 1.76 billion Korean won ($1.2 million). Kim’s portfolio spans 16 cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, and Ripple (XRP). Personal holdings include 0.0014 BTC, while her husband holds 0.01 ETH, 472 DOGE, and 519,004 XRP. Additionally, her eldest son owns 3,336 XRP.
Following Kim is another Seoul City Councilor, Choi Min-gyu, with a crypto portfolio worth 1.6 billion Korean won ($1.09 million). The third-largest holdings belong to Kim Ki-hwan, CEO of Busan-Ulsan Expressway Co., whose digital assets are valued at 1.4 billion Korean won ($955,031).
This report aligns with similar recent disclosures in the United States, where several of President Donald Trump’s cabinet members were found to hold Bitcoin directly or through investment vehicles like crypto-backed ETFs. Health and Human Services Secretary Robert F. Kennedy Jr. reported holding a Bitcoin Fidelity account valued between $1 million and $5 million, while Director Russell Vought holds a Bitcoin worth between $1,001 and $15,000. Additionally, Treasury Secretary Scott Bessent disclosed owning a stake in iShares Bitcoin.
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