Is they totally banned crypto currencies.I don't think so they are just regulating the crypto currency exchanges on their country and they may create their own cryto currency soon.So they are not totally againt cryptos they just want it to be regulated or else there maybe illegal activities can be done with cryptos.Surely the price will rise when there is a clear announcement of South Korea about their state with crypto currency.
This is not the only reason for bitcoin price fall some altcoins are bumping so people want to transfer their bitcoins to altcoins due to higher transaction fees in bitcoin.