79-Year-Old Korean War Orphan Donates $145,000 in XRP, Setting a Precedent for Crypto Charity

Seoul National University Hospital announced on Thursday that a 79-year-old donor, Kim Geo-seok, donated 100,000 XRP to the hospital on March 26, valued at approximately $145,000 at the exchange rate that day, creating a precedent for cryptocurrency philanthropy. Kim Geo-seok became an orphan during the Korean War, built a portfolio from scratch, and in 2025 became the first individual donor in South Korea to donate cryptocurrency to a nonprofit organization.

Donation Record: Policy Background and Execution of XRP Donations

(Source: Seoul National University Hospital)

The Financial Services Commission (FSC) of South Korea officially allowed nonprofit organizations to settle cryptocurrency donations in mid-2025, as there was previously a lack of clear regulatory authorization for such actions. Kim Geo-seok is one of the first individual donors to take action after the new regulations came into effect, with his previous cryptocurrency philanthropic donations as follows:

August 2025: Donated 1 Bitcoin to the Korean Red Cross, marking the first instance of an individual donating cryptocurrency to a nonprofit organization in South Korea.

November 2025: Donated 1 Bitcoin to Seoul National University Hospital.

March 2026: Donated 100,000 XRP to Seoul National University Hospital, approximately $145,000.

Both Seoul National University Hospital and the Red Cross promptly exchanged the cryptocurrency for Korean won via the Korean cryptocurrency exchange Upbit, in accordance with internal regulations after receiving the funds. This XRP donation will be used to support the hospital’s development fund and children’s medical center. Director Kim Yong-tae stated that this donation is “an extraordinary example of digital asset philanthropy.”

From Orphanage to Investor: The Life Journey of Kim Geo-seok

At the age of 4, Kim Geo-seok’s family was shattered by the Korean War, leaving him with scars from a guerrilla attack on his face, and he was sent to an orphanage in Jeju Island for care. After returning to Seoul, he made a living through odd jobs, earning very little.

At 19, he climbed to the top of Namsan Tower in Seoul, overlooking the entire city, and resolved to carve out a place for himself in the high-rise skyline of Seoul. Subsequently, he taught himself investment through decades of reading financial newspapers, using Warren Buffett and Peter Lynch as models for learning.

Success was not without its challenges. A failed stock investment caused him to lose all his properties, forcing him to endure five harsh winters working as a hotel security guard while he rebuilt his startup capital. He ultimately reconstructed his portfolio, joining the ranks of successful individual investors, and began systematic high-value charitable donations in 2018. To date, Kim Geo-seok has donated a total of 1.27 billion Korean won (approximately $844,000) to Seoul National University Hospital.

At the donation ceremony on March 9, 2026, Kim Geo-seok expressed his hope that cryptocurrency donations “could become so common that they no longer make headlines.”

Frequently Asked Questions

When did nonprofit organizations in South Korea start accepting cryptocurrency donations?

The Financial Services Commission (FSC) issued relevant regulations in mid-2025, officially allowing nonprofit organizations to settle cryptocurrency donations. Kim Geo-seok’s Bitcoin donation in August 2025 is the first personal cryptocurrency donation case following the new regulations, creating a systemic precedent for cryptocurrency philanthropy in South Korea.

How will the donated XRP be handled?

Seoul National University Hospital, in accordance with internal regulations, will immediately exchange the 100,000 XRP for Korean won through Upbit, with the funds to be used for the hospital’s development fund and children’s medical center. This immediate settlement mechanism is standard practice for Korean nonprofit organizations accepting cryptocurrency donations, aimed at avoiding the risks associated with asset value fluctuations.

Why did Kim Geo-seok choose XRP as the donation asset?

Current reports do not detail the specific rationale for choosing XRP. Based on his donation history, Kim Geo-seok holds various cryptocurrency assets, including Bitcoin, and his choice of XRP may relate to his personal portfolio allocation and the market conditions at the time of the donation.