Korean youth resort to encryption as a last shot of prosperity star-news.press/wp

The cryptocurrency flourishes in South Korea, but under the surface, the mutation is driven by less optimism than the economic discrimination of its younger generation, according to a local expert.

Crypto exchange users in South Korea exceeded 16 million, according to data from late March, after receiving a batch of US President Donald Trump’s victory last November. The number represents more than 30 % of the country’s population.

However, the recent comments at the German Blockchain Week from Eli Ilha Yune, chief product official at Quantum Learning Startup Anzaetek, indicate that this is not the result of the local population of Blockchain technology. He explained during the “Asia Visions” committee that there are many “encryption traders in Korea.”

Yune noticed that “the motivation does not come from (…) Iman in the web3 (…) as in the West.” Instead, they attribute her to the financial despair of the young generation, which drives them to search for “quick money”.

Yune’s comments come at a time when President Lee Jae-Myung is moving recently to the pledges of the quick campaign to integrate digital assets into the South Korea financial system, with bold plans to integrate institutional encryption.

This includes support for the local Stablecoins version, as it was reported that the head of the Central Bank in South Korea says that he does not oppose the country where the Korea -based Stablecoin is issued.

Related to: South Korea to investigate local encryption fees

The terrible situation of South Korea youth

Crypto popularity between young generations is not new, and the wealth report Korea 2025 He appears The “wealthy young man” has three times more than the wealthy. Also, 34 % of high -value local individuals already have encryption, according to the locality Reports.

However, according to Yune, this is not driven by a large -scale faith in the potential of Crypto among the youth of South Korea. He said that South Korea is accustomed to having a high -growth economy and found itself unable to keep up with the pace, leaving the young generations who are unemployed.

Youth unemployment for individuals between the ages of 15 and 29 in South Korea I stood up At 6.6 % in May, more than twice the unemployment rate by 2.7 %.

Related to: Kaay

Real estate is far -reaching

Yune admitted that the stocks will be the first choice for South Korean youth to be observed. However, he indicated that “they do not see much revenue.” Yune said: Housing is far from the reach of everyone for personal needs and as an investment. Yun said:

“They cannot buy homes anymore, or even the rent is very high for them. So their only option is to do the encryption.”

The average price of the Seoul apartment has doubled in five years, reaching up to 1 billion WNA ($ 689,000), and the rate of income price for the city It is said 15.2. “That is why a lot of (…) encryption traders and why I say this is not really interested (encryption),” Yoon said.

“There are exceptions, of course,” Yune added, but he said, “Many of them are not aware of the infrastructure or technology” participating in encryption.

magazine: Korea to lift the corporate encryption ban, beware HDS: Asia Express