South Korea’s Democratic Party is ramping up its efforts to appeal to so-called “crypto retail investors,” pushing forward with digital asset policies ahead of the presidential election. At a National Assembly forum on the 15th, Democratic Party lawmaker Kang Joon-hyun stated that the party is actively discussing cryptocurrency-related policies and plans to announce a comprehensive message soon. He emphasized that the younger generation, especially those in their 20s and 30s, view crypto as a key tool for asset building, and said the party would swiftly prepare a manual to support the proposed Digital Asset Basic Act. Kang also positioned crypto policy as one of the party’s core presidential pledges, urging the swift institutionalization of the bill.
Fellow Democratic Party lawmaker Lee Kang-il echoed this sentiment, stressing that increasing public awareness and maturity around crypto have made policy institutionalization an urgent issue tied to the upcoming election. He expressed concern over Korea losing its edge as a global leader in digital assets and pledged to meet industry expectations through legislative reform.
Representative Min Byung-deok also highlighted the urgency of legalizing digital assets, urging the next administration to enact the Digital Asset Basic Act as soon as possible. He noted that although Korea already possesses the infrastructure needed to develop the industry, regulatory delays due to differing perspectives have stalled progress. He added that the Democratic Party is planning to push forward with legislation through discussions with the National Policy Committee and the Fintech Industry Association.
On the other side of the political aisle, Hong Joon-pyo—former Daegu mayor and a presidential contender in the ruling People Power Party—announced bold plans to foster the crypto industry as a new growth engine. During an economic policy speech on the 16th, Hong vowed to pursue a “Trump-style” regulatory overhaul, promoting blockchain and crypto adoption across the public sector and administrative services. He also pledged to improve trading infrastructure by introducing a certified digital wallet system, launching a central bank digital currency (CBDC), and implementing a won-based stablecoin to support a new payments ecosystem. His vision includes a “Gate-Free” system for emerging industries, emphasizing minimal government intervention and maximal private sector autonomy and innovation.
With both leading parties promising crypto-friendly reforms and deregulation, digital asset policy is rapidly becoming a defining issue in South Korea’s presidential race.
