Kimchi premium, live
The kimchi premium is the percentage by which crypto trades higher on South Korean exchanges than on global venues. The figures below refresh every 30 seconds. The USD/KRW rate and the formula are shown so you can reproduce any number on this page.
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How this is calculated
For assets quoted against USDT on global exchanges:
Premium (%) = (Korean KRW price ÷ (Global USD price × USD/KRW) − 1) × 100
Tether is handled differently. Because USDT is itself the dollar reference, its premium compares the Korean won price of USDT against the spot USD/KRW rate:
USDT premium (%) = (Korean KRW price of USDT ÷ USD/KRW − 1) × 100
Data sources
| Input | Source |
|---|---|
| Korean prices | A major Korean won-market exchange, public ticker API |
| Global prices | Global USDT-market exchange, with a secondary venue as fallback |
| USD/KRW | Public FX rate API, with a fixed fallback if unavailable |
Read the timestamp before quoting
The premium moves continuously and can swing by a full percentage point within a session. Always pair a quoted figure with the timestamp shown above the table.
If the FX rate is marked fallback, the live rate feed was unreachable and a fixed rate was substituted. Figures in that state are indicative only and should not be quoted.
Why the gap exists
Capital does not move freely between the Korean and global crypto markets. Korean exchanges require a verified real-name bank account, foreign participation is limited, and moving won abroad to arbitrage the difference runs into foreign exchange rules. That friction leaves the price gap standing instead of closing it.
The premium widens when Korean retail demand surges and narrows when the domestic market cools. A negative reading — often called the reverse premium — means Korean prices sit below global levels, which has been the more common state during quieter periods.
Because the calculation includes the exchange rate, a sharp move in USD/KRW shifts the premium even when crypto prices are flat. This is a frequent source of misreporting.
Arbitrage is not straightforward
A visible gap is not a free trade. Transfer fees, settlement time, price movement while assets are in transit, exchange withdrawal limits, and foreign exchange regulations all apply.
From January 2027, gains are also taxable in Korea. And under the 2026 travel rule amendment, transfers to self-hosted wallets will be permitted only where the sender and the recipient are the same person, which closes several arbitrage routes.
Primary sources
Every figure on this page traces back to one of these. Please verify against the original before publishing.
- Korean exchange public ticker API — Korean won market prices
- Global exchange public market API — USDT market prices
- Exchange Rate API — USD/KRW reference rate
Related pages
Korean-language version
The Korean site carries a fuller kimchi premium dashboard, a USDT converter, and multi-asset price tables.
This page summarises publicly available Korean regulatory and market information. It is not legal, tax, or investment advice. Rules change and enforcement dates shift; always confirm against the primary sources linked on this page before relying on it.