Report. Korean Market Analysis

Report. Korean Market Analysis

Right now there are several countries playing a game of thrones. Singapore, Malta, Estonia, Japan and Switzerland are among the worthy candidates for the title of “the world’s most crypto-friendly country”. If you’re looking for the most crypto-friendly population, however, South Koreans are clearly in the lead. It’s hard to find a nation that could be more “blockchain enthusiast” than them.

Given Korea’s outsize role in the crypto world, Cindicator’s internal team of financial analysts undertook in-depth research to examine the South Korean market and identify trends. The team reviewed recent economic history, exchange data, and the regulatory and taxation landscape. It is clear that South Korea is going to play a major role in embracing cryptocurrencies, thanks to a combination of existing infrastructure, the country’s regulatory framework and other factors.

Key findings include:

  • Compared to global prices, the Bitcoin price in South Korean won was on average 5.5% higher (from 20 Nov 2017 to 20 Nov 2018);
  • South Korean crypto assets tend to be more volatile than the Top 10 index, demonstrating sharper selloffs during bearish periods and outperforming during bullish market conditions;
  • The South Korean government initially focused on protecting citizens after discovering the growth of crypto pyramid schemes. The government is currently shifting its stance in favour of blockchain technology and cryptocurrency.

The Korean market analysis report also covers:

  • Macroeconomic overview of the South Korean market;
  • Blockchain landscape in Korea;
  • Review of Korean crypto exchanges;
  • Kimchi spread analysis;
  • Crypto regulation;
  • Taxation of cryptocurrencies in South Korea;
  • Future trends and development;
  • Pyramid scheme analysis and commonly observed red flags;
  • Analysis of top Korean blockchain projects and price performances after listing.

Download the free report to learn more about the crypto industry in South Korea.