Yigit Taha OZTURK 
In a country known for its technological edge and fast-moving markets, South Korea has taken a bold political leap. The ripple effects are expected to reach deep into the global crypto industry.
Lee Jae-myung Wins With Pro-Crypto Agenda
Opposition leader Lee Jae-myung has officially taken office as president after winning a snap election on June 3. The vote came amid political chaos, triggered by former president Yoon Suk-yeol’s declaration of martial law.
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Lee’s victory came on the back of a strong pro-crypto platform: legalizing Bitcoin ETFs, allowing the $884 billion national pension fund to invest in crypto, and launching a Korean won-backed stablecoin.
During a policy discussion in May, Lee emphasized:
“We must establish a won-backed stablecoin market to prevent national wealth from leaking overseas.”
Historic Voter Turnout Fuels Momentum
Nearly 80% of eligible voters cast their ballots—South Korea’s highest turnout since 1997. Lee secured over 49% of the vote, defeating conservative rival Kim Moon-soo.
Following the announcement, Bitcoin surged on local exchanges like Bithumb and Upbit, reaching 149,000 won (~$108,480), about 2% higher than global averages due to the so-called kimchi premium.
Crypto Promises Amid Broader Reforms
Although crypto was a major theme of Lee’s campaign, he faces numerous national challenges: economic hardship, geopolitical tensions, and an urgent need for institutional reform.
Lee has pledged to focus on economic revival via AI and defense investments, judicial neutrality, and societal modernization—including introducing a 4.5-day workweek.
Whether or not Lee delivers on his crypto promises, the market is watching—closely.
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