Korea is nation of great technological advancement. They have global hardware, household appliances, electronics, car, shipbuilding, semiconductor companies like SAMSUNG, LG, HYUNDAI, HYNIX, KIA, and many more. They also have one of the top cryptocurrency exchanges around the world. They are; BITHUMB, Quoinone, Korbit, Upbit and many more. In addition, they are 3rd in the list of bitcoin trade among many nations as we can see from this website:https://www.coinhills.com/market/currency/
However, there market hot as it used to be. Unlike last year and this January where Korean exchanges had 15-40% difference than the rest of the world, they don't have huge difference with other cryptocurrency exchange around the world. Right now they only have 3-5% price difference than the other bitcoin exchanges among the world as we can from this image below:
They are so because current Korean media portrays cryptocurrency as a Pyramid ponzi scheme that will eventually lose it's value soon, because current Korean administration have no idea what to do with cryptocurrency and announces random negative plans about cryptocurrency exchange, because current government policy gathers bitcoin owner's data via mandating Koreans to trade with cryptocurrency only via exchanges where account owner could be traced through major banks (Hana, KB KOOKMIN, IBK, SHINHAN), and many more.
In other worlds, climate kind a changed in Korea, due to evil portrayal of cryptocurrency by media, and government policies that are negative against cryptocurrency in general.
Want to see the examples of cryptocurrency market in Korea right now? Take a look at this photos;
This is a capture from Korean politics show SSULZUN (Story Battle) that shows one of it's host Shimin Yu (former Minister of Health and Welfare) telling general public to not to invest on cryptocurrency.
In these photos, Former Minister of Health and Welfare tells general public that trading with cryptocurrencies are "something that people shouldn't even think to touch of," "Things that shouldn't exist if couldn't be separated," and " a gamble that government should regulate."
Also for example take a look at this capture of YTN, One of Korea's major News Provider
It puts death of a person, who was in their twenties, as a headline breaking news and gives scary image of Cryptocurrency to general public as something that shouldn't be invested on.
In addition to above portrayal of media about cryptocurrency, take a look at this article. It shows how Korean are now forced to convert their virtual cryptocurrency account to real-name-verfied accounts that could be taxed about 24.5% in near future: https://bitcoinmagazine.com/articles/south-korea-allows-cryptocurrency-trading-real-name-registered-accounts/
Although general cryptocurrency Market is going back up with recent good news from the world Economic Conference that delayed regulation of cryptocurrency to July, It seems like Korean-craziness about cryptocurrency will most likely to decrease. (Unlike the past where so called "Kimchi Premium" existed at the Korean cryptocurrency Market.)
However, I sincerely hope this kind of negative media portrayal and regulation about cryptocurrency to be changed at Korea. I hope so because blockchain technology, where cryptocurrencies are based, can't be advanced by the we the general public unless this kind of negative portrayal of cryptocurrencies and regulations continues around the world like Korea. Instead, if this situation continues, it is possible that this could be misused by various government around the world who always want to take power from the people( Example:"Sesame Credit of China," "and huge income and inheritance taxation increase from various global governments to decrease people power from ever being rich).
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