Upbit lists only one South Korean 'Kimchi coin' out of 54 new assets in 2025

Upbit, South Korea's largest cryptocurrency exchange, has listed only one domestic project—colloquially known as a "Kimchi coin"—among 54 new assets added this year, News1 reported. The sole South Korean addition was Story (IP). In contrast, seven of the 10 cryptocurrencies delisted from the exchange in 2025 were domestic projects. This has significantly reduced the presence of South Korean projects on the exchange, which holds a 70% market share. According to the report, the trend stems from domestic exchanges adopting risk-averse listing policies due to government regulations. Industry insiders are now calling for an end to regulatory uncertainty to encourage local companies to resume new blockchain initiatives.