Hyperithm CEO Oh Sang-rok Attends Trump Dinner as Top TRUMP Meme Coin Holder

Oh Sang-rok, the CEO of Hyperithm, a Seoul-Tokyo digital asset firm, was invited to a private dinner with Donald Trump on May 22. The invitation, extended to only 25 individuals globally, was reportedly for top holders of the Official Trump (TRUMP) meme coin, which launched in January. Blockchain records suggest that Oh Sang-rok holds over $3 million in the TRUMP meme coin, placing him as the 13th largest holder.

Oh Sang-rok's background includes his tenure as a Morgan Stanley M&A professional, and he founded Hyperithm with a focus on serving institutional clients rather than chasing general crypto trends. The firm operates in legal-first jurisdictions like Japan and is backed by investors such as Coinbase Ventures. This approach reflects a vision of cryptocurrency not as a fleeting novelty, but as a future-proof financial infrastructure. Oh Sang-rok has also been an advocate for clear crypto regulation in South Korea, stating that "Crypto should be recognized as a core K-asset."

Meanwhile, a separate trend is emerging in South Korea's labor market. Foreign workers, many of whom are undocumented and face challenges in accessing traditional banking services, are increasingly requesting to be paid in stablecoins like Tether (USDT) instead of the Korean won. This shift is driven by practical concerns rather than enthusiasm for technology. Employers in towns such as Eumseong and Yangju are installing wallet apps and adjusting payrolls to accommodate these requests. One factory owner, under pressure from over 30 foreign employees, noted that their workers "can’t go to the bank easily," necessitating the adoption of cryptocurrency payments.

For these workers, cryptocurrency offers solutions to long-standing issues such as wage theft, remittance delays, and exchange rate volatility. After a Nepalese worker lost over 10 million won to dormitory theft, entire communities turned to crypto as a safer and more efficient alternative. Despite the technical illegality of stablecoin payments for wages under current South Korean labor law, which mandates payment in legal tender, the practice is reportedly being overlooked by authorities. This leniency is likely due to the estimated over 400,000 undocumented foreign workers in South Korea and the labor supply strains caused by an aging population.

This dual trend—Oh Sang-rok's high-profile engagement with a meme coin and the grassroots adoption of stablecoins by foreign workers—illustrates the growing acceptance of cryptocurrency across different sectors of South Korean society. Despite regulatory ambiguity and legal hurdles, crypto adoption is rising at both ends of the Korean economy, reflecting a broader shift towards digital financial solutions.