The country's bitcoin market may see tremendous growth and attract more investors as a result of the upcoming presidential election. With over 18 million people, or more than a third of the population, interested in cryptomarket, country has one of the most active cryptocurrency markets in the world. Cryptoexchanges have recently topped 16 million users, and their daily trading volumes occasionally surpass those of the nation's major stock indices.
Koreans will vote for a new president in a snap election on June 3 to replace Yoon Suk-yeol, who was impeached and eliminated from office in December for attempting to impose martial law. The center-left Democratic Party's Lee Jae-myung is now dominating the polls. He faces up against Kim Moon-soo, the People Power Party's nominee and a fervent conservative.
No matter who wins the presidency, it is obvious that Crypto will win the election in South Korea, which is holding elections on Tuesday. The two front-runners, Kim Moon-soo and Lee Jae-myung, have made cryptocurrency a major component of their campaigns.
Lee, who barely lost the 2022 presidential fight, has proposed establishing spot cryptoexchange-traded funds and even enabling the country's $884 billion pension fund to invest in cryptocurrency. His conservative opponent supports the ETF drive, indicating uncommon bipartisan agreement on the proposed digital asset policy. The conservative People Power Party's Kim Moon-soo, his opponent, has likewise expressed support for the digital asset sector. In order for banks to collaborate with crypto exchanges, Kim has promised to remove obstacles. Additionally, he supports tax breaks for entrepreneurs and small investors who make money with crypto.
The Financial Services Commission (FSC) of South Korea had earlier declared that, as of June 1, registered crypto exchanges and eligible non-profit organizations will be permitted to sell their cryptocurrency holdings on regional markets.
Exchanges can now liquidate user fees paid in cryptocoins, and nonprofits in the nation can also sell diigital currency they have received through donations. Within the second half of 2025, the FSC intends to announce additional steps to permit cryptocoins trading by publicly traded firms and entities recognized as professional investors in a controlled rollout.
Investors in Korea are watching Tuesday's presidential election, as all three of the front-runners have promised to expand the local digital asset market, including approving the nation's first spot cryptomarket exchange-traded funds.
South Korea's upcoming snap presidential election is centered around cryptocurrency, with candidates Lee Jae-myung, Kim Moon-soo, and Lee Jun-seok focusing on promoting digital assets. They propose legalizing spot Bitcoin ETFs and relaxing banking regulations limiting fiat-to-crypto trading. The election is expected to shape cryptocurrency regulations in South Korea, with a particular emphasis on stablecoins and ETFs.
How big will the crypto market get after south korea elections
No matter what, in today's Generation everyone wants to go digital. Many big businessmen and politicians have already shown interest in digital assets. As the market is growing, the crypto ecosystem will grow enormously. With international markets keeping a close eye on it, South Korea is positioned to emerge as a model for how decentralized finance and national politics might work together to influence the direction of digital economies.
Also read: Vitalik Buterin Wants to Supercharge Ethereum… GentlySheetal Jain is a seasoned crypto journalist, content strategist, and news writer with over three years of experience in the cryptocurrency industry. With a strong grasp of financial markets, she specializes in delivering exclusive news, in-depth research articles, and expertly optimized on-page SEO content. As a Crypto Blog Writer at CoinGabbar, Sheetal meticulously analyzes blockchain technologies, cryptocurrency trends, and the overall market landscape. Her ability to craft well-researched, insightful content, combined with her expertise in market analysis, positions her as a trusted voice in the crypto space.