Kim Moon-soo, the presidential candidate from South Korea's main right-wing People Power Party, officially announced on Monday his support for the local adoption of spot cryptocurrency exchange-traded funds (ETFs) as a core pillar of his election pledges.
According to South Korea's National Election Commission, Kim vowed to integrate spot crypto ETFs into the nation's financial system to foster wealth accumulation for the middle class. This move creates a rare bipartisan consensus, as his rival, Lee Jae-myung of the Democratic Party of Korea, made a similar pledge last week aimed at the younger generation.
With both major candidates now aligned, the institutionalization of the South Korean crypto market appears to be a matter of "when" rather than "if," regardless of the election outcome.