That's rather unfortunate, they had brought ripple to moon but seems like South Korea is not happy about it, some ICO based in korea would die if that's so. Korea's down would just be another -20% total marketcap is everyone is seriously dumping their alts, hope things could recover like China to regulate but not performing a full scale ban.
Good read first of all. I think these will end up as speculations. South Korea is one of those countries that are inclined to technology. The blockchain technology, the bitcoin market, and the cryptocurrency market in general, is a market that is heavily connected to technology. I think there are just having qualms on how the cryptocurrency market would play out. I think Koreans are known as people who are very critical with following rules and regulations and doing things by the book, therefore, I think they are just seeing the bitcoin market as a divergence, that's why they have some doubts embracing it.