I've noticed that the price of BTC on Korean exchanges is much higher than US/global average prices. As of now, the price of BTC on the global market is around 57,000 USD. But on Korean exchanges, it's being traded for around 75,000,000 KRW, or the equivalent of 66,500 USD. I get that there can be a discrepancy of a few percentage points, but this seems very very odd.
Up until at least a month ago, the prices correlated with the exchange rate.
I don't understand how this can be possible…is the demand for BTC in Korea just that much stronger with a much smaller supply?
As I can only deposit fiat into a Korean exchange atm, I'm actually thinking of buying a chunk of something like doge, which is more or less the same price, transfer it to a global exchange, convert it to BTC, take that BTC to the Korean exchange and sell it for fiat. It seems like a quick way to bump up my fiat blance by 10~15% with just a few transfers…or am I missing something?
Edit: Actually, it looks like everything is ~15% higher. I feel there should still be some way to capitalize on this..