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Korean Stocks Rally on President Lee’s Won-Backed Crypto Support, Kakao Pay Surges
Korean Stocks Rally on President Lee’s Won-Backed Crypto Support, Kakao Pay Surges
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BTCCSquare news:
South Korea’s stock market has become Asia’s top performer in the first half of 2025, fueled by President Lee Jae-myung’s endorsement of won-pegged stablecoins. The Kospi index jumped nearly 30% year-to-date, reaching NEAR four-year highs, while retail investors poured Won20.5 trillion ($15 billion) into margin loans.
Kakao Pay more than doubled in value this month, and LG CNS climbed 70% before a slight pullback. On the Kosdaq, Aton surged 80%, and mobile game developer ME2ON tripled after launching a dollar-pegged stablecoin for casino platforms. The rally highlights growing institutional and retail interest in crypto-linked assets.
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