According to CryptoQuant data, the Bitcoin premium in the South Korean market has recently risen back to approximately 2%, reaching its highest level since the outbreak of the US-Iran conflict. The so-called "Kimchi Premium" in the South Korean market is primarily driven by local demand. Due to capital controls and residency-based KYC requirements, the South Korean crypto market has long remained relatively independent from the global market.
Data shows that throughout 2025, Bitcoin prices in South Korea have mostly been higher than the global volume-weighted average price (VWAP). After BTC broke through its all-time high of $126,000 in October 2024, the South Korean premium once surged to 8.27%. Following the outbreak of the Middle East conflict in 2026, volatility in the South Korean market intensified significantly. In early March, a discount of approximately 2.27% briefly appeared, after which the market has continued to fluctuate.