In my talk I will start with a (hopefully gentle) introduction to chromatic homotopy theory and what is known about how chromatic localizations behave on algebraic K-theory spectra. I will then present a new result which reveals chromatically localized K-theory to have particularly nice properties. Combining this with the results obtained in joint work with Tamme, one obtains new calculations of such chromatically localized K-groups. All of this is joint with Lennart Meier and Georg Tamme.