According to the source, Arthur Hayes said at Korea Blockchain Week 2025 that crypto has become an escape from a crushing rat race for South Koreans, citing a job market dominated by a few powerful families; source: Arthur Hayes remarks at KBW2025 (KBW Official). For trading, Korean retail participation has historically aligned with a KRW premium on BTC and ETH versus USD markets, often referred to as the Kimchi premium, highlighting localized demand and basis opportunities; source: Bank of Korea publications on the Kimchi premium. KRW spot liquidity is concentrated on local exchanges such as Upbit and Bithumb, and Korean flows can disproportionately impact altcoin moves during Asia hours; source: Kaiko market microstructure research. Practical setup: monitor BTC-KRW and ETH-KRW basis, Upbit and Bithumb order-book depth, and KRW stablecoin net flows to gauge local bid; source: Kaiko and CCData tracking frameworks.