[Edaily Reporter Yun Junghoon ] Binance, the world’s largest cryptocurrency exchange, is causing a stir by successively listing high-leverage perpetual futures contracts tracking major South Korean stocks—such as SamsungElectronics(005930) and SK hynix(000660) —as well as the KOSPI index. However, since access for Korean investors varies depending on the specific contract, investors are advised to exercise caution.

According to the cryptocurrency industry on the 28th, Binance recently listed a futures contract (KORUUSDT) tracking the 3x leveraged KOSPI ETF “KORU,” which is listed on the New York Stock Exchange, and raised the maximum leverage to 50x. In addition, perpetual futures contracts for SamsungElectronics (SAMSUNGUSDT) and SK hynix (SKHYNIXUSDT)—which directly track the stock prices of these domestic giants—have also begun supporting trading with up to 50x leverage.

Consequently, an unprecedented derivatives market has opened up, allowing investors to apply extremely high leverage to the stock prices of major domestic semiconductor giants and KOSPI volatility, sparking concerns about capital outflows and increased volatility in the Korean stock market.

However, this newspaper’s investigation confirmed that the products available to domestic investors are limited.

First, products such as “SAMSUNGUSDT” and “SKHYNIXUSDT,” which are directly linked to stocks listed on the domestic stock market, are currently completely off-limits to Korean investors.

In fact, attempting to purchase these products on the Binance exchange triggers a notification stating, “Due to our Terms of Service and regional regulations, this feature is not available in your region.” It is reported that accounts using a Korean IP (Internet Protocol) address or those that have completed Know Your Customer (KYC) verification with a Korean ID are locked out and cannot trade. This is a measure Binance has taken to avoid friction with regulatory authorities in certain countries.

On the other hand, perpetual futures products based on overseas ETFs listed on the New York Stock Exchange can be traded normally by Korean investors. Representative examples include “KORUUSDT,” which tracks a 3x leveraged KOSPI ETF, and “SOXLUSDT,” which tracks a 3x leveraged U.S. semiconductor ETF.

These products are classified as overseas derivatives based on the U.S. stock market system and are therefore exempt from domestic investor regulations. Domestic investors can purchase Tether (USDT) on domestic exchanges such as Upbit and Bithumb, transfer it to Binance, and then invest with ultra-high leverage of up to 50x in KORU or SOXL futures products.

In the case of KORUUSDT, the industry estimates that a massive influx of funds from domestic investors occurred, as trading volume surged to trillions of won immediately after its listing.

A cryptocurrency industry official stated, “While Binance has blocked direct access to domestic stock-linked products out of concern for Korean regulations, ETF-based futures listed on U.S. stock markets—such as KORU and SOXL—fall into a regulatory gray area, allowing Korean users to trade them without restrictions.” The official added, “As these are ultra-high-risk products where gains and losses can reach up to 150 times the volatility of the underlying asset, investors must exercise extreme caution.”