PANews reported on May 5 that according to Cryptonews, Kim Moon-soo (former Minister of Labor), the presidential candidate of South Korea's ruling party, the People's Power Party, recently said that if elected, he would consider allowing major national institutions such as the National Pension Service (NPS) and the Korea Investment Corporation (KIC) to invest in virtual assets including Bitcoin (BTC). NPS is the world's third largest pension fund.

Kim Moon-soo believes that given the changes in the domestic and international economic environment, the existence of virtual assets cannot be ignored, and promises to foster and stabilize the domestic crypto market through institutionalization. It is estimated that about 16.3 million citizens in South Korea hold or have held crypto assets.

This statement is the latest example of political parties actively seeking votes from cryptocurrency holders in South Korea's upcoming presidential election (June 3). Both major parties have recently proposed a number of crypto-friendly policy intentions, but industry insiders have reminded that similar promises in previous elections may not be fully fulfilled, and attention should be paid to subsequent actual actions.