Only 8 out of 73? High-ranking government officials' '100 million won cryptocurrency' Min Kyung-tae shows clear preference for altcoins

고진아 Reporter

According to the "High-ranking Officials' Voluntary Asset Registration Status" disclosed through the Official Gazette by the Government Ethics Committee today (24th), only 8 out of 73 high-ranking officials who experienced status changes between April 2 and May 1 were found to hold virtual assets. The highest amount exceeded 120 million won in combined family assets held by Min Kyung-tae, Ambassador to Algeria, but most officials reported virtual assets in the tens of millions of won range, showing a tendency to hold altcoins.

The high-ranking official with the most virtual assets was identified as Min Kyung-tae, Plenipotentiary Minister of the Embassy to Algeria. Ambassador Min reported a total of 124.39 million won in virtual assets, including 109.1 million won in his own name, 10.25 million won held by his eldest son, and 5.03 million won held by his spouse. The virtual assets held by Ambassador Min included Bitcoin, IOTA, XRP (Ripple), and Ethereum.

The second-largest virtual asset holder was Kang Hye-gyu, Director of the Central Community Service Institution. Director Kang held approximately 19.42 million won in virtual assets, including altcoins such as Stellar Lumens, Ripple, and Shiba Inu. This demonstrates that interest in various altcoins beyond mainstream coins like Bitcoin is not insignificant among high-ranking officials.

Only 8 out of 73? High-ranking Officials' 'Hundred Million Won Coins' Min Kyung-tae, Clear Preference for Altcoins
[Photo=Yonhapnews]

Other high-ranking officials including Kim Wol-yong, Director of the National Institute for Lifelong Education (8.89 million won in Bitcoin under eldest son's name), Choi Kwan-ho, President of Yeosu Gwangyang Port Authority (5.95 million won), and Jung Chul-jae, Director of the USFK Base Relocation Project (2.51 million won), were found to hold virtual assets mostly in the tens of millions of won range. Many of them also held altcoins alongside Bitcoin, suggesting that the virtual asset investment portfolios of high-ranking officials are more diverse than expected.

This disclosure by the Government Ethics Committee has revealed one aspect of virtual asset holdings among high-ranking officials. The overall scale remains small, and the characteristic feature is a diversified investment tendency that includes not only major virtual assets such as Bitcoin and Ethereum but also various altcoins.

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