South Korean bitcoin exchange have always demonstrated a high premium on their listed bitcoin prices and trading rates. Ever since the debut of venture capital backed and regulated bitcoin exchanges including Korbit and Bithumb, the South Korean bitcoin exchange has presented excellent arbitrage opportunities for traders. As of May 12, bitcoin price in the South Korean exchange market is $2,076, approximately 12.7 percent higher than that of the global average price. To be exact, bitcoin is being traded on South Korean exchanges and trading platforms at a price that is $269 higher than the global average price of $1,807. Hence, even if traders securely purchase bitcoin overseas and attempt to sell it on South Korean bitcoin exchanges, they wouldn’t be able to do so without opening South Korean bank accounts that are not easily accessible to foreigners.