Written by｜Liam, Deep Tide TechFlow
If there were a contest for the world’s most enthusiastic cryptocurrency traders, South Koreans would certainly be on the list.
South Korea has long been one of the most fervent countries for cryptocurrency globally, even coining a term: “Kimchi Premium,” where South Korean traders once paid up to 10% more for Bitcoin than the global price.
But by 2025, the tide has turned.
The trading volume on South Korea’s largest cryptocurrency exchange, Upbit, has plummeted by 80% compared to the same period last year, and the activity of the Bitcoin-KRW trading pair is far less vibrant than in previous years; instead, the South Korean stock market is booming, with the KOSPI index soaring over 70% this year, continuously hitting historical highs.
On Kakao Talk and Naver forums, retail investors who once discussed altcoins daily are now talking about “AI semiconductor concept stocks.”
The ghost stories of…
