Tiger Research: 700 Trillion Won Fleeing Overseas, South Korean Market Is Missing the Entire Crypto Era
- Korean investors have moved approximately 700 trillion won overseas to access unavailable products.
- Between 2021 and 2026, about $530 billion is estimated to flow out of Korean exchanges.
- The net outflow ratio from Korea is increasing, indicating faster capital flight than market contraction.
- Korean investors generated an estimated $3.5 billion in fee revenue for overseas exchanges in 2025.
- The Korean market remains focused on retail spot trading, while the global market has expanded into derivatives and other services.
A report by Tiger Research, in collaboration with Chainalysis, indicates that Korean investors are increasingly moving their capital overseas due to a lack of available products in the domestic market. Approximately 700 trillion won is estimated to have flowed out of Korea between 2021 and 2026, highlighting a significant trend of unmet demand being satisfied abroad.
The analysis reveals that while the global digital asset market has evolved to include derivatives and other financial services, the Korean market remains primarily focused on retail spot trading. This has resulted in a declining share of Korean exchanges in overall trading volumes, as investors turn to overseas platforms for a wider range of investment options.
Furthermore, the report notes that the net outflow ratio from Korea is rising, suggesting that capital is leaving at a faster pace than the contraction of the Korean market. In 2025 alone, Korean investors contributed an estimated $3.5 billion in fees to overseas exchanges, indicating a substantial economic impact on foreign operators.
Overall, the findings serve as a warning about the diminishing competitiveness of the domestic market and the potential long-term implications of capital flight for the Korean economy.
Tiger Research：700万亿韩元资金流出海外，韩国市场错过整个加密时代
Tiger Research与Chainalysis合作的一份报告指出，韩国投资者因国内市场缺乏可用产品而越来越多地将资金流向海外。预计在2021年至2026年间，约有700万亿韩元的资金流出韩国，突显出满足未满足需求的趋势正在国外得到满足。
分析显示，尽管全球数字资产市场已经发展到包括衍生品和其他金融服务，韩国市场仍然主要集中在零售现货交易。这导致韩国交易所在整体交易量中的份额下降，投资者转向海外平台以获取更广泛的投资选择。
此外，报告指出，韩国的净流出比率正在上升，这表明资本流出的速度快于韩国市场的收缩。仅在2025年，韩国投资者就为海外交易所贡献了约35亿美元的费用，显示出对外国运营商的重大经济影响。
总体而言，这些发现警示了国内市场竞争力下降的风险，以及资本外流对韩国经济的潜在长期影响。