South Korea’s crypto market is showing a surge in the ‘Kimchi Premium’, as Bitcoin and altcoin prices climbed over 1% on May 16. Notably, Bitcoin traded at around 145.29 million KRW on Upbit exchange in South Korea during the early morning hours of May 16th. This marks a slight dip of 0.30% from the previous day’s trading. On Binance, BTC was priced slightly lower at 143.33 million KRW, resulting in a price gap of 1.96 million KRW and a Kimchi Premium of 1.37%. Ethereum (ETH), the leading altcoin, also saw an increase in its ‘Kimchi Premium,’ reaching 1.45%. Other major altcoins like Solana (SOL), XRP (XRP), Dogecoin (DOGE), and Shiba Inu (SHIB) are displaying similar premiums between 1.2% to 1.4%. Many of these top altcoins are currently trading with a premium around the 1.2% to 1.4% range.