Bitcoin's 'Kimchi Premium' Returns to Korea as Retail Demand Outpaces Global Prices

The "Kimchi premium" refers to the price difference between Bitcoin on Korean vs global exchanges, currently at 10%
Arbitrage involves buying Bitcoin cheap on global exchanges and selling for profit on Korean ones
Sam Bankman-Fried famously made millions from this arbitrage in 2019-2020 when premiums reached 50%
Capital controls make it hard for foreigners to withdraw Korean won profits
The premium signals high Korean retail demand; some traders are likely capitalizing on the new arbitrage opportunity