Employees and executives at Dunamu, the operator of crypto exchange Upbit, are receiving higher average salaries than employees at the four largest banks in South Korea.

According to data released by the Financial Supervisory Service (FSS), the average salary of Dunamu employees in the first half of 2024 was 133.73 million won (about 99,500 USD), according to News1.

The earnings of employees at this exchange surpass the average salary of employees at some of the country's major banks, such as KB Kookmin Bank, Shinhan Bank, Hana Bank and Woori Bank. According to FSS data, the average salary of employees at major banks is 116 million won (about $86,700).

Salary increase due to industry performance

Dunamu employees have not always been paid so well. In the first half of 2023, they earned an average of 59.44 million won ($44,100). This means that the current average salary of this crypto exchange employee has increased by 124% compared to last year.

This salary increase is attributed to the impressive growth of the market in the first two quarters of 2024. On January 10, the US Securities and Exchange Commission (SEC) approved the first Bitcoin spot ETF, marking a broader acceptance of digital assets in the US.

The event sparked interest in virtual assets in South Korea, which positively impacted Dunamu’s operating income during the period. In Q1 2024, the exchange recorded consolidated revenue of 531.1 billion won (nearly $400 million). Compared to Q4 2023, operating income increased by 60.5%.

Based on the data, it can be seen that Dunamu has paid generous performance bonuses to employees thanks to the company's increased profits.

Upbit Trading Volume in March

On March 5, Upbit's 24-hour trading volume peaked at $15 billion as Bitcoin hit a new high of $69,200. The rally was fueled by large inflows from spot Bitcoin ETFs.

While BTC traded below $70,000 globally, South Korean traders pushed Bitcoin prices even higher. At around 3 a.m. UTC on March 5, Upbit showed BTC at 96,734,000 won (about $72,504).

The price difference between the world market and Korea is often referred to as “Kimchi Premium,” a term inspired by the popular Korean side dish.

Source: https://tapchibitcoin.io/luong-nhan-vien-san-upbit-cao-hon-ca-nhan-vien-tai-cac-ngan-hang-lon-o-han-quoc.html