Crypto traders in South Korea are once again paying more than the rest of the world — and it’s not just for Bitcoin. From Ethereum to Solana, major cryptocurrencies are trading at higher prices across Korean exchanges, fueling talk of the return of the “kimchi premium.”
Bitcoin Trading at Over $1,500 More in South Korea
Over the past 17 days, a notable price gap has emerged between South Korean crypto markets and global averages. As of Sunday, June 8, 2025, Bitcoin (BTC) is priced at approximately $107,412 on South Korean platforms like Upbit — nearly $1,516 higher than the global average of $105,896. That’s a 1.43% premium Korean traders are paying.
Back in late May, things looked different. On May 21, BTC was actually trading at a 0.22% discount in South Korea compared to the global price. Since then, the tables have turned, with the local premium peaking at 3.09% on May 30, when BTC hit $107,118 in Korea vs. $103,998 globally.
What’s Causing the “Kimchi Premium”?
This price difference isn’t random — it’s known in crypto circles as the kimchi premium, named after the famous Korean dish. It’s driven by several key factors:
Strict capital controls in South Korea make it difficult to move funds across borders.
Limited supply of crypto on local exchanges creates scarcity.
High domestic demand pushes prices upward, especially during bullish market cycles.
As a result, South Korean traders often end up paying more for the same assets.
Ethereum, XRP, and Solana Also Show Premiums
It’s not just Bitcoin showing this trend. Several other top cryptocurrencies are trading above their global prices in South Korea:
Ethereum (ETH): 1.71% premium
XRP: 1.76% premium
Solana (SOL): 1.49% premium
These consistent premiums across multiple assets suggest that this isn’t a fluke — it’s a reflection of strong, ongoing demand from Korean investors and unique market conditions.
Why It Matters
South Korea remains one of the most active and influential crypto trading hubs in the world. When prices diverge significantly from the global average, it’s a signal that local market dynamics — including regulation, liquidity, and investor behavior — are at play.
While the premium might present arbitrage opportunities, capital controls and strict regulatory oversight make it difficult for traders to exploit them.
Final Thoughts
As South Korea continues to march to its own beat in the crypto world, the growing price premiums highlight how regional forces can shape digital asset markets. Whether you’re a global investor or a local trader, keeping an eye on these price differences can offer valuable insight into where the market might be headed next.
