Councilor Holds $1 Million in XRP as Korean Officials Disclose Crypto Assets

Recent disclosures from South Korea’s Ethics Commission for Government Officials have unveiled the cryptocurrency holdings of numerous public servants, with one city councilor reporting a significant investment in XRP.

Government Officials’ Crypto Investments Come to Light

A report from South Korean newspaper Munhwa Ilbo highlights the latest financial disclosures for 2025, shedding light on the digital asset portfolios of government officials. Among 2,047 individuals who declared their assets, 411—accounting for 20.1%—acknowledged investments in cryptocurrencies. Collectively, these officials hold digital assets valued at approximately 14.412 billion Korean won ($9.8 million based on current exchange rates).

A Seoul Councilor Holds a Significant XRP Portfolio

One of the most striking revelations came from Kim Hye-young, a councilor in Seoul, who emerged as the largest crypto holder among South Korea’s government officials. His disclosure indicates ownership of 16 different cryptocurrencies, amounting to a total of 1.765 billion won ($1.2 million). Interestingly, his Bitcoin holdings make up only 184,000 won of this sum.

Beyond his investments, Kim also provided details on the portfolios of his wife and eldest son. Notably, his wife appears to have a strong preference for XRP, which dominates her holdings. She reportedly owns 519,004 XRP, valued at $1.2 million (1.8 billion Korean won), alongside smaller amounts of Ethereum (0.0122 ETH) and Dogecoin (417 DOGE). Additionally, Kim’s eldest son holds 3,336 XRP.

Meanwhile, another Seoul city councilor, Choi Min-gyu, holds the second-largest crypto portfolio among the officials. His investments amount to 1.6 billion won, with XRP making up a significant portion—409,551 XRP, worth approximately 1.4 billion won ($966,540).

XRP’s Growing Popularity Among Korean Investors

The strong presence of XRP among these holdings aligns with broader trends in South Korea’s crypto market. XRP has consistently ranked among the most-traded digital assets on major Korean exchanges like Upbit and Bithumb, often surpassing Bitcoin and Ethereum in trading volume. According to analyst XForceGlobal, Korean investors hold an estimated 16–20% of XRP’s global market capitalization.

Interestingly, despite the dominance of XRP among high-profile investors, Kim Ki-hwan—CEO of the Busan-Ulsan Expressway and the official with the third-largest crypto portfolio—holds 1.42 billion won in crypto but does not own any XRP. Instead, his investments are concentrated in Terra Luna Classic (LUNC) and EOS (EOS).

Transparency in Crypto Holdings Among Public Officials

These recent disclosures follow a directive issued last year by South Korea’s Ethics Policy Division, mandating government officials to declare their cryptocurrency investments. The move aims to enhance transparency and accountability in public service.

South Korea is not alone in witnessing government officials’ growing interest in digital assets. In the United States, lawmakers have also begun acknowledging their crypto investments. Pennsylvania Representative Guy Reschenthaler recently disclosed holdings in XRP, with investments ranging between $1,000 and $15,000.

As crypto adoption continues to expand, the involvement of government figures underscores the asset class’s growing legitimacy in mainstream finance.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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