South Korea’s Kimchi Premium Returns: BTC and ETH Prices Jump 18% Higher Than the Global Average

South Korea’s Kimchi Premium Returns: BTC and ETH Prices Jump 18% Higher Than the Global Average


While a great number of spot exchanges have seen consistent prices in a few select areas in the world, bitcoin is selling for a premium. That’s the case in South Korea right now as there’s a price gap, otherwise known as the ‘kimchi premium’ on domestic South Korean exchanges in comparison to foreign exchanges.

Bitcoin, Ethereum, and Bitcoin Cash See Premiums in South Korea

Bitcoin prices on domestic South Korean crypto trading platforms are much higher than they are across a majority of exchanges worldwide. For instance, on Tuesday morning (EST) the price per bitcoin (BTC) has been coasting along at $58,500 per unit. However, in South Korea, BTC prices have a much larger premium than the rest of the world. At the time of publication, the price of BTC on Bithumb is 77,804,000 KRW or $69,423 per unit. That’s a premium of more than 18% higher than the global average.

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Exchange rates via the South Korean exchange Bithumb

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