Stablecoins Trade Above Value in Korea as Kimchi Premium Surges

Core Insights - The Kimchi Premium has surged to an eight-month high, indicating strong demand for cryptocurrencies among South Korean retail investors [4][5] - The South Korean Won has fallen to a five-month low against the dollar, leading to increased interest in stablecoins as a hedge against currency risk [1][2][6] Currency Trends - As of October 14, the exchange rate reached 1,435 KRW/USD, marking the lowest level since May [2] - The weakening of the Won has been exacerbated by escalating U.S.-China trade tensions, including new port fees imposed on each other's ships [2] Stablecoin Market - Stablecoin prices, particularly USDT, have risen significantly on South Korean exchanges, trading over six percent above their dollar value [3][6] - The demand for stablecoins has surged as investors seek refuge from the declining value of the Won, with USDT becoming the most popular asset on Bithumb [5]