About 7.4 percent of Korean adults are investing in cryptocurrencies, according to the Korea Financial Investors Protection Foundation.

Its survey of 2,530 adults aged 25-64 said 7.4 percent invested in the digital currencies as of last December, up from 6.4 percent in 2017.

The average investment amount per person rose to 6.93 million won, up 64.2 percent from a year ago, the foundation said.

Those in the 50s are the largest investors. Their average investment amount was 12.17 million won.

The average investment amount was 8.06 million won for the investors in the 40s and 5.9 million won for those in the 30s and 60s.

Those in the 40s more than doubled the investment amount to 8.06 million won last year from 3.99 million won in 2017.

The survey showed that investors bought more cryptocurrencies out of the expectation that the prices would rise following the nosedive last year.

About 92.6 percent said they did not have cryptocurrencies, About 73.1 percent of those not holding cryptocurrencies said they have no plan to invest in the future.

Except for those in the 50s, all age groups said they have no intention to invest in cryptocurrencies.

Asked why they do not want to invest, 41.2 percent answered the safety concerns, including hacking. They are reluctant to invest because of wild price fluctuations and the complex and difficult investment method, the foundation said.

The foundation said South Korea needs to introduce tools to protect investors from fake news. It proposed a public campaign on the risks in cryptocurrency investments.