South Korean Employees Leaving Multi-National Employers For Crypto

South Korean news TV channel JTBC, reported that the employees of various multinational companies of South Korea have been quitting their jobs. The reason was found that they became crypto investors and traders and have been able to bag profits into millions.

It was reported that the companies which have lost a massive portion of their workforce included companies such as LG Electronics, Shinhan Card, and Samsung. The departing employees said that though their employers had paid them even during the times of pandemic, yet the money wasn’t enough. They claimed that during testing times they were already trying to explore the South Korean crypto industry, which their friends told them was growing exponentially. In less than 14 months period, they told that they were able to earn profits into millions because they became crypto investors and traders.

An ex-employee of Shinhan Card said that reportedly indicated to the news channel that his venture into crypto was life-changing. He informed that he had invested a portion of his wealth into cryptocurrencies. However, within no time he literally earned a profit of Won 3 Billion (approximately US$ 2.7 Million) over and above his investment. However, he told that he had to take the grave risk in order to make sure that his investment provides him the profits he was looking for. If he hadn’t taken the risk, then he would not have been able to earn such a big money in his entire life, said Shinhan Card’s ex-employee.

The story of a former employee of Samsung was also very much similar to the ex-employee of Shinhan Card. According to JTBC, this particular employee was the top earner out of the South Korean crypto industry. The employee told the news channel that he had successfully earned an amount of 40 billion in the native currency. When converted into US Dollars, Samsung’s ex-employee has made a fortune amounting to US$ 36 Million. He expressed that the amount he had invested into Bitcoin was only Won 40 Million (i.e. approximately US$ 44,670).

However, none of these ex-employees, who were once part of Samsung and Shinhan Card, did identify in which particular crypto they had invested.

There was yet another female ex-worker of Yeoido, a South Korean financial entity, who informed JBTC that she wanted to invest in crypto. She stated that her preferred crypto would have been Bitcoin if she had ever invested in crypto. But because she knew that cryptocurrencies are highly speculative and risky, therefore, she did not invest in them. Yet she regrets her decision and believes that she missed the opportunity when it was knocking at her door.

Evidently, the crypto industry in South Korea is currently one of the rapidly growing industries. The proof of the South Korean crypto industry’s growth can be extracted from the fact that there is over US$ 7 Billion daily crypto trade since January 2021.

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