South Korean politics is facing turbulence, strongly affecting the financial market. The won has just hit its lowest point against the US dollar since March 2009. 🪙
This is reflected in the "Kimchi Bitcoin Premium" - an index showing that BTC prices in South Korea are 3% higher than the world average. This discrepancy arises from the country's strict capital control policies.
The political crisis escalates as Prime Minister Han Duck-soo and the acting President face impeachment. Local investors are turning to BTC as a safe asset amid the weakening won. 🌐
Despite the instability, blockchain and cryptocurrency are still expected to continue to grow strongly.