A newly-released study reveals that South Korea's “kimchi premium,” is strongly associated with a surge in international remittances to China. Crypto Bitcoin
Study Reveals South Korea's ‘Kimchi Premium’ Strongly Linked to International Remittances to China
Examination of Overseas Remittances to China Uncovers Strong Correlation with South Korea’s ‘Kimchi Premium’conducted by Jangyoun Lee, an assistant professor at Incheon National University, and Taehee Oh of the Bank of Korea, South Korea’s kimchi premium appears to be significantly correlated with an influx of overseas remittances to China.
Our findings imply that Chinese arbitrageurs use Korean financial institutions as bitcoin-cashing outlets, converting virtual currencies into fiat ones when the kimchi premium was persistently high.
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