South Korea’s Presidential Election: How Lee Jae-myung’s Crypto ETF Proposal Could Revolutionize the Market

COINOTAG News reports that on June 2nd, South Korean voters are set to participate in a pivotal presidential election. Political analysts indicate that the crypto sector stands to gain regardless of the election results, as frontrunners Lee Jae-myung and Yoon Suk-yeol both advocate for a more progressive regulatory framework. Specifically, Lee Jae-myung has introduced plans to legalize a spot crypto ETF and propose that the nation’s substantial $884 billion pension fund diversify its portfolio with crypto assets. Furthermore, he suggests the introduction of a stablecoin anchored to the Korean Won, aimed at modernizing the financial ecosystem while mitigating capital flight.

With over a third of South Korea’s population—around 18 million individuals—actively engaging in digital asset trading, the nation has cemented its position as one of the world’s most dynamic crypto markets. Notably, on some trading days, volume on South Korean exchanges can eclipse that of the traditional stock market. Data from the Bank of Korea indicates that South Korean residents held approximately $74.5 billion in crypto assets by the close of the previous year.