PANews reported on December 20 that according to Cryptonews, Ki Young Ju, founder and CEO of CryptoQuant, expressed concerns about South Korea's financial stability and warned that poor economic policies and political turmoil could force cryptocurrency companies and capital to leave South Korea. Ju criticized South Korea's economic policies in a post on the X platform, pointing out the appreciation of the won and the decline in the attractiveness of domestic assets.
Ju further pointed out that the government's efforts to stabilize the currency have not worked, but have instead exacerbated economic instability. In particular, the USDT value on Upbit has been aligned with the International Monetary Fund (IMF) rate, which is seen as a warning sign, reflecting waning confidence in the South Korean economy. At the same time, the depreciation of the won may indicate capital flight, where investors move assets abroad to avoid economic losses.
Ju expressed dissatisfaction with the government's attempts to retain capital, emphasizing that restrictions should be reduced and incentives increased to encourage investment. As a domestic business operator who has been operating in South Korea for seven years, Ju also expressed his growing frustration and hinted that he might move the company elsewhere.