South Korean Officials Hold Nearly $10 Million in Cryptocurrencies: Bitcoin and Ethereum Lead

As reported in a news article by Munhwa Ilbo on March 27, 2025, the South Korean Government Officials Ethics Committee has released its 2025 public official asset disclosure report, revealing significant cryptocurrency holdings among government workers. According to data published today, 411 officials—representing 20.1% of the 2,047 public servants required to disclose their assets—reported owning virtual assets worth approximately 144.12 billion Korean won ($9.83 million).

The average cryptocurrency holdings per official stands at about 35.07 million won ($23,914), highlighting the growing adoption of digital assets among South Korea's public sector employees.

Seoul City Council member Kim Hye-young topped the list with virtual asset holdings valued at 1.71 billion won. Her portfolio includes 16 different cryptocurrencies, with Bitcoin being a significant component. Kim's spouse and eldest son also reported owning various digital assets including Ethereum, Dogecoin, and Ripple.

The second-largest holder is Seoul City Council member Choi Min-kyu, who declared virtual assets worth 1.62 billion won. Rounding out the top three is Kim Ki-hwan, representative director of the Busan-Ulsan Expressway Corporation, with 1.43 billion won in cryptocurrencies including Luna Classic and ChallengeDAC.

This marks the second consecutive year that South Korean officials have been required to disclose their cryptocurrency holdings. Under current regulations, officials at Level 4 and above must report the types and quantities of virtual assets they own, while those at Level 1 and above must also provide information on acquisition methods and transaction records from the past year.

The reported cryptocurrency amounts are calculated based on the daily average price on the registration reference date.