An exclusive new South Korean social club that caters to the super-rich and commands a KRW 1 billion ($734,290) annual membership fee could exclude people who made their fortunes from trading crypto, a report has claimed.
A reporter from the South Korean newspaper Kookmin Ilbo visited the club, named DYAD Cheongdam, and wrote:
“Not everyone with money can join the club. DYAD has not disclosed its specific criteria for membership. However, it is known that people with an excessive number of tattoos or people who have made money from trading cryptocurrency may have a hard time joining.”
The reporter added that individuals who might “damage the club’s image” would “not be accepted.” The club will officially open in summer 2026. It is located in Cheongdam, one of the most affluent districts in Seoul.
Per its website, DYAD is South Korea’s “first high-end members’ club.” The club says it will provide guests a combination of “business and leisure.”
And it says that it is a place for members to share their “vision and taste with a small group of attractive people.”
Would-be members must be aged between 19 and 60. The club will only grant membership to people who provide letters of recommendation from two existing members.
DYAD openly claims to have styled itself after famous private members’ clubs in major overseas cities.
It says that some ot its key influences include the Core Club in New York and London’s Soho House.
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The club’s facilities include a range of high-tech fitness, meditation, and longevity programs. It also boasts business meeting rooms and a “biohacking lab.”
The Kookmin Ilbo reporter said they visited a “super-luxurious kitchen that featured a sink and storage cabinet that costs 100 million won ($73,049) per unit.”
The reporter explained that “over 100 people have already joined” the club ahead of its opening. In addition to the 1 billion KRW membership fee, members will also have to pay for a range of other costs, the newspaper added.
Park Ae-jung, the head of DYAD’s marketing and public relations department, said:
“Our members include businesspeople, startup CEOs, and people from the world of culture and the arts. We have selected some customers and contacted them first. But there are also people who heard about it through their acquaintances and contacted us directly.”
The newspaper explained that the club wants to become the “Casa Cipriani of South Korea.” Casa Cipriani is a social club in New York. Its present and past members reportedly include the likes of Drew Barrymore, John Legend, Blake Lively, Ryan Reynolds, and Taylor Swift.
However, Kookmin Ilbo noted, Casa Cipriani’s annual membership fee is close to $5,000, considerably lower than DYAD’s price.
A survey published last month by the financial group KEB Hana found that over half of South Koreans have experience trading crypto.
Almost a third of crypto traders are currently holding onto their coins in the hope of making bigger profits in the future, the researchers found.
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