The Magazine for Asian Investors
South Korean government officials believe that the majority of South Korean citizens are now increasingly looking for career opportunities related to cryptocurrencies. The news had recently made headlines as government officials seek new career opportunities in the crypto industry.
As a government official on the Financial Services Commission (FSC) turned to the crypto industry, some members of the ruling Democratic Party saw work ethic problems. Since the FSC is responsible for overseeing the crypto industry, they see it as inappropriate for employees to move into the industry they previously oversaw.
Although the work ethics oversight committee found no violations, government officials are not satisfied and expect the audit method to be revised.
Roh Woong-rae, a Korean member of parliament, explains that more and more officials in Seoul are seeking their fortunes in the crypto industry and leaving their positions as officials as a result. The MP is highly critical of former FSC employees joining a crypto company supervised by the regulatory authority where they used to work. He sees this as a violation of work ethics.