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 between 2021 and 2026 to access unavailable products domestically.
- The global digital asset market has shifted towards derivatives and services, while Korea remains focused on spot trading.
- Korean investors generated an estimated $3.5 billion in fee revenue for overseas exchanges in 2025.
- The net outflow ratio from Korea is rising, indicating that capital is leaving at a faster pace than the market is contracting.
- Unmet demand from Korean investors is contributing to the growth and competitive strength of overseas operators.
A recent report by Tiger Research, in collaboration with Chainalysis, highlights that Korean investors are increasingly moving their capital overseas, with an estimated 700 trillion won flowing out between 2021 and 2026. This shift is largely due to the limited availability of financial products and services in the domestic market, which has pushed investors to seek opportunities abroad.
The global digital asset market has evolved significantly, with a focus on derivatives, payments, and on-chain services, while the Korean market remains primarily centered on retail spot trading. This discrepancy has resulted in a decline in the market share of Korean exchanges as investors turn to international platforms for a broader range of financial options.
The report indicates that while absolute outflows may have decreased, the net outflow ratio is rising, suggesting that capital is exiting the Korean market at an accelerating pace. Korean investors are contributing significantly to overseas exchanges, generating substantial fee revenues and helping these platforms better understand and cater to their needs.
As unmet demand continues to drive capital offshore, the implications for the Korean market are concerning, as it risks losing competitive ground in the rapidly expanding global digital asset landscape.
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合作发布的一份最新报告指出，韩国投资者正越来越多地将资金流出海外，预计在2021年至2026年间流出约700万亿韩元。这一转变主要是由于国内金融产品和服务的有限可用性，迫使投资者寻求国外的机会。
全球数字资产市场已发生显著变化，重点转向衍生品、支付和链上服务，而韩国市场仍主要集中于零售现货交易。这种差异导致韩国交易所的市场份额下降，投资者转向国际平台以获取更广泛的金融选择。
报告指出，尽管绝对流出可能有所减少，但净流出比率正在上升，这表明资金正以加速的速度流出韩国市场。韩国投资者为海外交易所贡献了可观的手续费收入，并帮助这些平台更好地理解和满足他们的需求。
随着未满足的需求持续推动资金流出，韩国市场的前景令人担忧，因为它面临在快速扩张的全球数字资产领域中失去竞争优势的风险。