Retail investors in South Korea are retreating from the crypto market, while institutions are rushing to grab exchange equity. As AI and the Korean stock market heat up, trading volumes on South Korea's top five crypto exchanges have significantly shrunk, putting short-term revenue under pressure. However, institutions like Korea Investment & Securities, OKX, Hana Bank, and Samsung affiliates are doubling down on exchanges like Coinone, Dunamu, and Flybit during this time. When the market is quiet, retail investors see the tide receding, but institutions see the chips for the next round of digital financial infrastructure.