South Korea’s presidential candidate Lee Jae-myung calls cryptocurrency a “means of trade and investment”

South Korea’s new cryptocurrency presidential candidate Lee Jae-myung has doubled admiration for cryptocurrencies. Lee has announced to the public that he is considering creating and issuing a national set of crypto accounts. The ruling Democratic Party’s presidential candidate is more praising crypto and treating it like an asset.

Presidential candidate Lee Jae-myung is expressing his willingness to soften Seoul’s tough stance on anything crypto-related

Lee will face Yoon Seok-yeol, the nominee for the main candidate of the opposition People’s Power Party, in the general election on March 8th The Election.

Both Lee and Yoon have expressed a willingness to tone down Seoul’s tough stance on anything crypto-related. But because the Democratic Party is so dependent on the support of young voters, Lee is now trying to address the so-called “2030” demographics – those 20 to 39 year olds. Due to the surge of support in 2030, incumbent President Moon Jae-in 2017 came to power with an overwhelming victory.

But Moon’s government has taken a rigid stance on cryptocurrencies, a move that has alienated many younger Democratic Party supporters. Lee had hoped to regain that support – and tried to breathe life into his campaign with a conciliatory and even business-friendly approach to crypto.

Lee Jae-myung describes cryptocurrency as a “trading and investment instrument”

Speaking to students at elite Seoul National University who wore black hoodies, Lee Jae-myung said:

“It cannot be denied that virtual currency is a medium of exchange and investment.”

Lee also answered a student’s question about it.

Kyunghyang Shinmun quoted a student who asked the candidate about his stance on cryptocurrencies.

To which Lee responded by saying:

“I think crypto is a very positive thing. Crypto has been recognized by many players as a medium of exchange or a store of value. The crypto market has exceeded the trading volume of the domestic stock market index KOSPI. “

According to opinion poll data released by EDaily on December 6, Yoon currently leads a Real Meter poll with 6.5 percentage points ahead of Lee, while a poll by the Opinion Research Institute Korean Society rates Yoon just 1.7 percentage points higher than Yoon . However, the two seem to show that Lee bridges the gap with Yoon.

According to data released earlier this year, 60% of those who traded cryptocurrency in South Korea in the past year are between 20 and 39 years old, with more than a third under 30 years old.

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