Crypto in Korea · Figures on this page update automatically.
The kimchi premium is the gap between the price of a cryptocurrency on Korean exchanges and its price on global exchanges, once the Korean won price has been converted into dollars. When Korean buyers are paying more than the rest of the world the premium is positive; the reading above shows where it stands at the moment. It can persist because Korea's capital controls and banking rules make it hard for arbitrage traders to move money in and out quickly enough to close the gap.
How is the kimchi premium calculated?
Take the Korean exchange price in won, divide by the dollar-won exchange rate to get a dollar figure, then express the difference from the global dollar price as a percentage. The exchange rate used matters, which is why different sites can show slightly different premiums.
Why doesn't arbitrage close the gap?
Closing it means buying cheap abroad, selling in Korea and sending the won back out again — but foreigners cannot easily open Korean exchange accounts, and residents face reporting requirements and limits on moving funds overseas. That friction and delay leaves room for the premium to survive.
Can the kimchi premium be negative?
Yes. When Korean sentiment is weaker than the rest of the market, local prices trade below the global price, which traders call a reverse or negative premium. Both directions have appeared repeatedly across past cycles.