South Korea Crypto Exchanges See Operating Profits Plummet 78% in H1
South Korean crypto exchanges have seen a significant decline in operating profits, falling by 78% in the first half of 2026 compared to the same period last year. According to data from the Korea Financial Intelligence Unit (KoFIU), average daily trading volume at domestic virtual asset exchanges dropped 44%, while market capitalization decreased by 33%. The number of won-denominated deposits also declined by 35% over the six-month period.
The figures come as South Korean retail investors appear to be shifting their attention from crypto to the country's stock market. In May, the value of crypto held by South Korean investors fell by 50.2% to 60.6 trillion won ($41.4 billion) over roughly a year, with some attributing this decline to capital moving towards stocks.
The combined average daily volume across Upbit, Bithumb, Coinone, Korbit, and Gopax had fallen about 89% year-over-year during comparable seven-day periods, while the KOSPI, South Korea's benchmark stock index, had more than doubled over the 12 months to July 22.