Is there a cryptocurrency exchange in South Korea?

The only Korean cryptocurrency exchange that allows foreign residents of South Korea to link their bank account for domestic bank transfer is Gopax. On the plus side, there are no fees in depositing your Korean won to the Gopax exchange platform. Though Binance is not a South Korean cryptocurrency exchange platform, it’s worth mentioning.

Can foreigners buy bitcoin in South Korea?

Yes, foreigners who are legal residents of South Korea are allowed to buy bitcoin in South Korea, however, most local cryptocurrency exchanges do not allow foreigners to link their local Korean bank accounts to local exchanges except for one, Gopax. There are some requirements, however.

Why is Yoon launching a cryptocurrency exchange in South Korea?

During his campaign, Yoon promised deregulation of cryptocurrency trading. Therefore, this paves the way for the issuance of digital coins in South Korea. South Korea remains one of the top cryptocurrency trade exchange markets. South Korea has become a hub for cryptocurrency exchanges over the past few years.

Is gopax a good cryptocurrency exchange platform in Korea?

As far as I know, Gopax is also the only cryptocurrency exchange platform in Korea that foreigners can link their domestic (Korean) bank account to. Domestic wire transfers are, fortunately, almost instantaneous and inexpensive, so you’re also more likely to receive your Bitcoin immediately.