The market wouldn't have been hit THIS badly and over such a long period of time if it was because of something as minor as the SK government saying they were slowing trade. I would expect that there is a much higher chance that this is the market slowing itself and returning to what should be "normal" for Bitcoin after a crazy few months where absolutely everyone was trying to invest in cryptocurrencies in some form or another. SK would have had an impact, and maybe that's what the $14k to $13k drop was, but that has recovered, mostly, by now. I'm not saying that South Korea isn't significant, but I don't think it is as significant as people are trying to paint it as.