Why the world’s hottest stock market is a national liability
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Their enthusiasm for trading is on equally vivid display in global markets. Cryptocurrencies often sell in Seoul at what’s known as the “kimchi premium,” owing to intense demand from locals. When crypto prices surged in 2024, trading volume was actually higher in Korean won than in U.S. dollars. As AI mania spread, Koreans poured billions into the markets not only at home but also in the United States, where they form the largest cohort of foreign retail buyers.
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