{"id":554125,"date":"2023-02-20T08:49:08","date_gmt":"2023-02-20T05:49:08","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/south-koreas-kimchi-premium-turns-to-discount\/"},"modified":"2023-02-20T08:49:08","modified_gmt":"2023-02-20T05:49:08","slug":"south-koreas-kimchi-premium-turns-to-discount","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/south-koreas-kimchi-premium-turns-to-discount\/","title":{"rendered":"# South Korea\u2019s Kimchi premium turns to discount"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3a948876a07\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3a948876a07\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/south-koreas-kimchi-premium-turns-to-discount\/#%E2%80%9D_South_Koreas_Kimchi_premium_turns_to_discount_%E2%80%9C\" >&#8221; South Korea\u2019s Kimchi premium turns to discount &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_South_Koreas_Kimchi_premium_turns_to_discount_%E2%80%9C\"><\/span>&#8221; South Korea\u2019s Kimchi premium turns to discount &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-48054ca8>South Korea\u2019s &#8220;Kimchi premium&#8221; has flipped to a discount again, meaning cryptocurrencies such as Bitcoin are now cheaper to buy on South Korean exchanges.<\/p>\n<p>The phenomenon is named after the Korean dish kimchi. The Kimchi premium refers to when the price of Bitcoin (BTC) trades higher on South Korean exchanges than in other markets.<\/p>\n<p>According to data from blockchain analytics provider CryptoQuant, the Korea Premium index has been shifting between the -0.24 and 0.01 range between Feb 17 and 19. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/f699692a-dba3-4572-b161-34dae5e34a21.JPG\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>The Korea Premium index has been shifting between the -0.24 and 0.01 range between Feb 17 and 19. Source: CryptoQuant.<\/em><\/figcaption><\/figure>\n<p>As of writing, data on CoinMarketCap shows BTC is trading at roughly $24,464 on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/exchanges\/coinbase-exchange\/\">Coinbase<\/a> and $24,487 on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/exchanges\/binance\/?type=perpetual\">Binance<\/a>.<\/p>\n<p>In comparison, Korean exchange <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/exchanges\/bithumb\/\">Bithumb<\/a> has it listed at $24,386 and one of the largest exchanges in South Korea <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/exchanges\/upbit\/\">Upbit<\/a> has it listed at $24,405.<\/p>\n<p>It&#8217;s the same situation for the second largest crypto by market cap, Ethereum (ETH). <\/p>\n<p>At time of writing, data on CoinMarketCap shows Coinbase has listed ETH at roughly $1,687 and Binance has it at $1,691, while Bithumb has listed ETH at $1,682 and Upbit at $1,683.<\/p>\n<p>According to Doo Wan Nam, chief operating officer of node validator and venture capital fund Stablenode, the Kimchi premium changing to a discount marks a drop in interest from Korean retail investors. <\/p>\n<p>&#8220;<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">General<\/a>ly it means fall in interest in crypto from Korean retail, which ironically is generally a better time to buy cause you know you can always sell yours to Korean gamblers for 20% premium later when they FOMO,&#8221; he said. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Korean (Kimchi) Premium is now turned into Korean Discount <\/p>\n<p>Generally it means fall in interest in crypto from Korean retail, which ironically is generally a better time to buy cause you know you can always sell yours to Korean gamblers for 20% premium later when they FOMO <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/FFcvdi93PE\">pic.twitter.com\/FFcvdi93PE<\/a><\/p>\n<p>\u2014 Doo | StableLab @Seoul (@DooWanNam) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DooWanNam\/status\/1627376338104635394?ref_src=twsrc%5Etfw\">February 19, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Some traders try to profit by trading the price differences between various exchanges, a practice known as arbitrage.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Korean regulators investigate banks over $6.5B tied to Kimchi premium<\/em><\/strong><\/p>\n<p>In the past, the size of the Kimchi premium has been tied to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>, with notable dips recorded at times when bad news breaks\u00a0about South Korean crypto exchanges.\u00a0<\/p>\n<p>The premium dis<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared in early 2018 when the South Korean government announced it was planning to crack down on cryptocurrency trading. <\/p>\n<p>A <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.snb.ch\/n\/mmr\/reference\/sem_2019_05_31_lehar\/source\/sem_2019_05_31_lehar.n.pdf\">2019 paper<\/a> from the University of Calgary found that the Kimchi Premium first occurred in 2016.<\/p>\n<p>According to the researchers, between Jan 2016 and Feb 2018, South Korean Bitcoin exchanges charged an average of 4.73% more than their United States counterparts. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/south-korea-s-kimchi-premium-turns-to-discount\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; South Korea\u2019s Kimchi premium turns to discount &#8220; South Korea\u2019s &#8220;Kimchi premium&#8221; has flipped to a discount again, meaning cryptocurrencies such as Bitcoin are now cheaper to buy on South Korean exchanges. The phenomenon is named after the Korean dish kimchi. The Kimchi premium refers to when the price of Bitcoin (BTC) trades higher&#8230;<\/p>\n","protected":false},"author":1,"featured_media":554126,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/0a845403-dcb1-4925-aba0-b51d63c7a9d9.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74863,74860,74891,117,72420],"class_list":["post-554125","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-ethereum","tag-business","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/554125","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=554125"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/554125\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/554126"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=554125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=554125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=554125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}