Poll Reveals That South Koreans Do Not Plan To Buy Cryptocurrency
KB Financial Group Inc., a Seoul financial holding company, published the results of a survey that showed that most wealthy South Koreans do not plan to purchase cryptocurrency.
The survey was conducted among 600 families whose income in April-May of this year amounted to more than 500 million Korean won ($446,000), and 400 families with assets of 1 billion won ($892,000).
The study showed that 75% of the respondents intend to invest in cryptocurrency in the near future, 23% will act depending on the situation on the crypto market, and only 2% expressed willingness to invest in digital assets.
At the same time, the experts working at KB Financial Group Inc. compare the situation in South Korea with global trends. About 29% of the world's inhabitants with incomes above the average and 52% of Asian residents, except for Japan, expressed their readiness to invest in cryptocurrencies.
The interest in the crypto sphere in South Korea increases with the growth of financial market regulators’ attention to digital assets. In July, the government of the country decided to hold on to a loyal approach to the crypto sphere following the results of the G20 summit. The Financial Services Commission of South Korea began to reconsider its actions with respect to the country's crypto exchanges, which should become subordinate to the Commission in case of adoption of a relevant law.
Surveys among residents of other countries have shown that many are not ready yet to invest in cryptocurrency. In the US, 96% of respondents know about digital assets, but 75% of citizens believe it is too risky to purchase them. A third part of British respondents considers cryptocurrency a financial bubble. A survey in Russia revealed that 56% of the country's residents are unaware of cryptocurrencies, and only 2% own digital assets.