South Korea's "kimchi premium" in cryptocurrencies, driven by high demand and real name policy, reached a 10.88% premium on March 16.

South Korea's "kimchi premium", a price gap in cryptocurrencies, especially bitcoin, when listed in South Korea versus those listed in the US or Europe, has resurfaced as bitcoin reached new all-time highs of over $73,000 in mid-March. The phenomenon, driven by the high demand for cryptocurrencies in South Korea's closed market environment and a "real name" policy requiring a person's domestic virtual asset trading account name to match their bank account name, reached a 10.88% premium on March 16. However, this price gap may not be straightforward for international investors due to the South Korean won's restrictions and tight controls on transfers outside the country.