The newly elected South Korean President Lee Jae-myung has promised to promote the development of cryptocurrency ETFs and the Korean won stablecoin

2025-06-04 12:19:04

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ChainCatcher news, South Korea's left-wing party candidate Lee Jae-myung has been elected as the new president of South Korea with a vote rate of 49.42%, defeating his right-wing opponent Kim Moon-soo who received 41.15%. Lee Jae-myung has promised to vigorously develop South Korea's cryptocurrency industry, with key policies including: allowing local adoption of spot cryptocurrency ETFs, establishing a Korean won stablecoin market, improving the regulatory framework for digital assets, and reducing blockchain regulation in specific areas to promote innovation.

South Korea is one of the largest cryptocurrency markets in the world, with 9.7 million trading users, accounting for about 20% of the total population. Unlike the previous president Yoon Suk-yeol's unfulfilled promises of being crypto-friendly, Lee Jae-myung is expected to push for the implementation of his cryptocurrency policies against the backdrop of a shift in attitude from the Financial Services Commission.

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