Kimchi premium has been kept on 5%~25% last second half year and now it goes to 50%. Korean Government announced "real-name financial policy" which is to prevent overheated speculation on Bitcoin by limiting financial trade and opening account for foreigners, due to abnormally high premium on Bitcoin in Korean market. However the result on the policy inflamed Kimchi premium heading to 50%.
Market value is defined basically by demand and supply. The Bitcoin supply is limited in Korean crypto-market as it is far from enough with the amount supplied by the small sized mining companies and retail miners against explosive demand. Korean coin market is totally dependent on supply outside of the country.
The Kimchi premium has been volatile within the certain range in-between 5~15% average, which is acceptable considering the lack of liquidity. The Gov. announced policy direction to suppress bitcoin trading with new regulation prohibiting for foreigners' opening an account(even temporally applied to Korean) or withdrawing their money out of Korea, according to Korea’s foreign-exchange and anti-money-laundering rules.
Now the only way of supply is blocked and the liquidity has gone. Even worse media is delivering stimulative news that produces massive potential investors waiting for the day to trade. As long as the Gov. keeps on going negative policy on Bitcoin, Kimchi premium won't be disappeared in 2018 in my perspective.
I wish you have good luck for happiness with your family.
