Bitcoin kimchi premium development South Korea 2021

Published by L. Yoon, Jun 14, 2023
As of July 2021, the difference in Bitcoin prices between South Korean cryptocurrency exchange Upbit and the world's largest crypto exchange Binance was around 0.12 percent, down from around 20.8 percent on May 19. Also known as the "kimchi premium," the difference in Bitcoin prices between South Korean and foreign crypto exchanges rose to an all-time high of more than 20 percent in April and May, meaning that Bitcoin prices on South Korean exchanges were much more expensive than on other foreign exchanges.

Difference in Bitcoin prices between Upbit and Binance from February to July 2021

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Release date

July 2021

Region

South Korea

Survey time period

February 17 to July 28, 2021

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Cryptocurrency in South KoreaFintech in South KoreaMobile banking in South KoreaBanking industry in South KoreaKakao Bank
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