What Happened to the South Koreans Expensive Bitcoin?

I just discovered that there was a time when South Korea had their own Bitcoin and theirs was more expensive than the normal Bitcoin that we currently have during that time the process was known as the kimchi premium. Also, the price was more expensive than other Bitcoin because investors wanted the Bitcoin of the South Koreans ignoring other assets that were in the market.

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The only problem then was that investors ignored other assets in the market thereby not giving room to grow instead they all focused on South Korean Bitcoin which continually made the Bitcoin price to be higher than the normal Bitcoin, sometimes it can be 20% higher or 30% higher than all other assets in the market. So the question is does 1 BTC still equals 1 BTC?

However, the South Korean Bitcoin suddenly dropped in value which was unusual and this has prompted the regulators in South Korea to investigate the reason why. The South Korean investigators also believe that one of the reasons for the dropped was foreign investors were taking advantage of it (arbitrage).

If one Bitcoin always equals one Bitcoin can we all agree that the rule doesn’t apply to the South Korean Bitcoin? Because it would seem unfair and the cause of the arbitrage. According to the South Korean regulators, the arbitrage so far has surpassed $1.5 billion and the transactions were carried out by two banks which then transfer the funds to other countries.

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