Korea Exchange chief calls for crypto ETFs to stay competitive
Jung Eun-bo, chairman of the Korea Exchange, has urged South Korea to approve cryptocurrency exchange-traded funds (ETFs) to remain competitive in global markets.
In a recent interview, Jung highlighted South Korea’s position as the third-largest real cryptocurrency trading country, stressing that cryptocurrency can bring new value to the financial sector.
“The U.S. has both futures and spot ETFs listed and actively traded. We need to allow cryptocurrency ETF trading without further delay,” Jung said.
His comments come as South Korea’s stock market faces challenges, including a shrinking investor base and issues with companies splitting excessively and struggling firms.
Jung’s vision for South Korea’s financial future involves strengthening market oversight, increasing transparency, and pushing for initiatives to enhance corporate value and protect minority shareholders.
He believes that introducing crypto ETFs would add depth to the market and provide more regulated investment options for those looking to gain exposure to digital assets.
Jung also voiced concerns over excessive legislation, particularly regarding corporate governance laws, and argued that South Korea’s financial markets need more flexibility to foster innovation.
He suggested easing restrictions on pension fund investments in equities, claiming that current limits on risky assets hinder long-term returns.
Jung’s push for crypto ETFs is part of his broader goal to modernise South Korea’s financial landscape and keep it competitive globally.
The crypto ETF market has already expanded significantly in countries like the U.S., Canada, and parts of Europe, with major firms like BlackRock and Fidelity entering the space.
Despite its active crypto market, South Korea has yet to introduce crypto ETFs, potentially missing out on key financial innovation.
