Eun Sung-soo's Mention of 'Wrong Path' Sparks 청원 Petition Saying "Don't Underestimate 20s and 30s"

A related petition has emerged amid the Bitcoin craze among the 2030 generation. Photo by Cheongwadae National Petition Board capture

[Asia Economy Reporter Kim So-young] Regarding Eun Sung-soo, the Financial Services Commission Chairman's remark that "adults should guide the younger generation if they are going down the wrong path" in relation to the cryptocurrency craze among people in their 20s and 30s, a petition calling for his resignation has been posted, sparking significant backlash.

On the 22nd, a petition titled "Please stop messing with Bitcoin. Do Korean men in their 20s and 30s have to live as slaves for life?" was posted on the Blue House National Petition Board. The petitioner listed situations such as the burden of childbirth caused by soaring housing prices and described the reality of young people jumping into cryptocurrency investment. As of 9:30 PM on the 23rd, the petition had garnered over 27,000 supporters.

The petitioner stated, "Most young people in Korea started investing in coins with a desperate hope to grasp at straws, and even dirt spoons have begun to buy houses with that money. However, right after the by-elections, the government has been regulating coins day after day, branding them as the evil axis, and the media has maliciously reported in line with this stance," expressing frustration.

They continued, "Today, Chairman Eun Sung-soo said things like 'all virtual currency exchanges might be eliminated by September,' 'cryptocurrency investment is the wrong path,' and 'adults should properly guide the way,' which shattered the bank balances of millions of young people nationwide. Yet, they still take 22% in taxes," expressing anger.

They added, "Even gangsters who extort money from street vendors protect those who pay rent. Is it normal for adults not to protect children but still demand taxes?" and demanded, "Then revert housing prices to the pre-government levels."

The petitioner said, "They buy houses, accumulate huge capital gains, become instant millionaires, and make ordinary people instant paupers, telling them not to do real estate or coins. What the government should focus on is not destroying the coin market and kicking away the ladder so that Korean youth cannot even dream of social mobility, but solving the LH scandal."

Finally, they pleaded, "Again, stop attacking young people earning 200, 300 thousand won a month and properly investigate the LH scandal," and earnestly requested, "Please do not underestimate the 20s and 30s youth of Korea anymore."

Earlier, on the 22nd, at the National Assembly's Political Affairs Committee full meeting, Chairman Eun said, "Capital gains tax is paid even when buying and selling paintings," and bluntly asked, "Does the government protect even the buying and selling of paintings?"

He added, "Cryptocurrency is not a security issued under the Capital Markets Act or related laws, and its substance is ambiguous, so the government does not have to protect assets invested in such things," and stated, "I do not think the government should protect just because many people invest."