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Bitcoin Is Worth More In South Korea? Here's Why! (Crypto Arbitrage)The kimchi premium is the gap in cryptocurrency prices, notably bitcoin, in South Korean exchanges compared to foreign exchanges. The analysis focused on the top four Korean exchanges - Upbit, Bithumb, Coinone and Korbit. The study found that despite a global downturn in. Cryptocurrencies are not regarded as legal money in South Korea, and exchanges, while legal, are governed by a strict regulatory framework. In South Korea.