South Korean crypto exchange profits plunge in H1 2026

6.7 Markets

Oct 2, 2026

South Korean crypto exchanges saw profits plunge 78% in H1 2026 as trading volumes, market cap, and customer deposits fell sharply, with sales down 41% despite a slight rise in tradable accounts.

South Korean cryptocurrency exchanges saw a significant downturn in the first half of 2026, with operating profits dropping 78% to KRW 81.6 billion. This sharp decline was mainly due to a 44% fall in average daily trading volume to KRW 3.1 trillion, a 33% decrease in market capitalization, and a 35% reduction in won-denominated customer deposits. Exchange sales also dropped by 41%, even though the number of tradable accounts increased slightly by 0.4%. According to a Korea Financial Intelligence Unit survey of 26 registered virtual asset service providers—including 17 exchanges and nine custody and wallet businesses—the downturn was largely attributed to weaker trading activity and a shift in investor interest toward the stock market. Additionally, the value of cryptocurrencies held by South Korean investors more than halved year over year, and external crypto transfers declined by 41%. Despite a marginally larger user base, the sector continues to face pressure as market sentiment remains subdued.