Bitcoin Premium in South Korea Rises Amid Global Tensions

Recent data from CryptoQuant indicates that the Bitcoin premium in the South Korean market has climbed back to approximately 2%, marking a new high since the onset of the U.S.-Iran conflict. According to Odaily, the 'kimchi premium' in South Korea is primarily driven by local demand, with the country's crypto market remaining relatively independent from global markets due to capital controls and residency-based KYC requirements. Throughout 2025, Bitcoin prices in South Korea were generally higher than the global volume-weighted average price (VWAP). In October 2024, after Bitcoin surpassed its historical high of $126,000, the premium in South Korea briefly reached 8.27%. However, following the outbreak of conflict in the Middle East in 2026, market volatility in South Korea increased significantly, with a discount of approximately 2.27% observed in early March, followed by continued market fluctuations.