"Can't afford a house? Buy coins? Unveiling the brutal truth behind the cryptocurrency craze among young people in South Korea!"

Crypto Assets are spreading like wildfire in South Korea; however, a local expert pointed out incisively that this wave is not driven by optimistic sentiment but is a result of the younger generation's economic desperation. Data from the end of March shows that the number of users on South Korean crypto exchanges has exceeded 16 million, a figure that has risen significantly since Trump was elected president in November last year, accounting for over 30% of the total population of South Korea. Eli Ilha Yune, Chief Product Officer of quantum machine learning startup Anzaetek, candidly stated during the "Asian Insights" panel discussion at Blockchain Week in Germany that this phenomenon is not due to public enthusiasm for Blockchain technology; in reality, there are many "coin chasers" in South Korea. Trader Yune emphasized: "Their motivation does not stem from the Western countries' faith in Web3 but is a manifestation of the younger generation's financial difficulties, eager for quick success and longing for overnight wealth."

😢The severe situation of young people in South Korea

Young people in South Korea are in a difficult situation, and Crypto Assets have been prevalent among the younger generation for quite some time. The "2025 South Korea Wealth Report" reveals that the amount of Crypto Assets held by "young wealthy individuals" is three times that of wealthy individuals over the age of 45. Additionally, local reports indicate that 34% of high net worth individuals have already entered the coin circle.

However, Yune pointed out that this is not due to Han Qing's general belief in the potential of Crypto Assets. In the past, South Korea enjoyed the benefits of a high-growth economy, but now it is difficult to continue the old dream, as the growth rate has declined, leaving the younger generation deeply trapped in unemployment.

🏠 Real estate is out of reach.

Yune admitted that stocks were originally the first choice for young investors in South Korea, but he also lamented that "returns are scarce, and it's hard to find a good situation." Housing, in terms of personal needs and investment, is like a mirage, unattainable.

The median price of apartments in Seoul has doubled over the past five years, exceeding 1 billion won (about $689,000), with a price-to-income ratio as high as 15.2, which is astonishing. Yune stated, "This is due to the many crypto assets traders, but they have no real affection for the coin."

He added that, although there are exceptions, the majority of young people are surprisingly unaware of the infrastructure and technology behind Crypto Assets, which is indeed a pity.

✨Conclusion

Young people in South Korea are facing a severe economic reality, and behind the crypto assets craze lies economic despair. Although 'young wealthy' individuals and high-net-worth people have flocked to the coin circle, most young people are not driven by a belief in blockchain technology, but rather by the bleak returns of traditional investment channels and the inaccessibility of assets like housing. Stocks are the first choice, but it's also hard to find good opportunities. Against this backdrop, crypto assets have become a reluctant choice, with most traders knowing very little about their technology and infrastructure, reflecting the blindness and struggle in their economic predicament.