Welcome back to the Data Debrief! South Korea has a new president, and it’s got big implications for crypto-related exchange-traded funds. Lee Jae-myung won the June 3 election, succeeding Yoon Suk Yeol, who caused market turmoil last year by briefly imposing martial law.
We dive into Jae-myung's election promises in this week's report, most notably his commitment to launch spot BTC ETFs.
Chart of the Week
Crypto ETFs enter Korea’s political mainstream
Is there demand in South Korea for a crypto-related exchange traded fund?
Short answer, yes.
In 2025, KRW-denominated crypto trading reached $663 billion, which presents almost as much as the global USD denominated volume, making South Korea the second largest crypto market in the world. Nearly one in three South Korean adults owns crypto, twice the adoption rate in the U.S., highlighting the growing political and economic influence of digital assets.
However, persistent barriers—like fragmented markets, low stablecoin adoption, and the enduring “kimchi premium”—continue to challenge institutional growth and product innovation in Korea’s crypto sector.
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Kaiko's research newsletter is written by the Kaiko research team: Dessislava Aubert, Adam Morgan McCarthy, and Anastasia Melachrinos. This content is the property of Kaiko, its affiliates and licensors. Any use, reproduction or distribution is permitted only if ownership and source are expressly attributed to Kaiko. This content is for informational purposes only, does not constitute investment advice, and is not intended as an offer or solicitation for the purchase or sale of any financial instrument. For any questions, please email research@kaiko.com.
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