Vitalik Says He Looks Forward to Results as South Korea’s Ethereum Consortium Launches

South Korean blockchain companies have formed a consortium to help develop the Ethereum ecosystem and support local builders. The group also plans to host a large conference later this year.

Kang Yoo-bin, chief executive officer of Nonce Classic, announced the launch of the Ethereum Korea Consortium at a press briefing in Seoul’s Gangnam district on April 14. Ethereum is steadily expanding as institutional infrastructure, he said, adding that financial institutions are also increasingly weighing how to adopt the blockchain through areas such as staking and treasury management.

The consortium aims to serve as a coordination layer across the broader ecosystem by connecting the Ethereum community, infrastructure providers and policy officials, Kang said.

Ethereum Korea was formed under the leadership of Web3 accelerator Nonce Classic and Ethereum community group The Ticker Is ETH. It is made up of 10 companies, including Four Pillars, Radius, Nodeinfra, DSRV and Wavebridge. More companies could join if they are expected to generate synergies, according to Kang.

The consortium has three goals: hosting conferences, building networks with institutions and policymakers, and expanding the Ethereum builder ecosystem. As a first step, Ethereum Korea plans to hold a large-scale conference in September.

It will also host the Ethereum Korea One forum on April 16 to outline its direction in greater detail. Attendees are set to include SharpLink Chief Executive Officer Joseph Chalom, HODL1 CEO Hiroki Tahara and John Park, Korea lead at the Arbitrum Foundation.

The consortium also plans to deploy funding to foster the builder ecosystem. Part of its operating revenue and member contributions will be used to expand South Korea’s Ethereum builder community, Kang said. An Ethereum Korea official described the builder support program as an operating model designed to help the technical ecosystem grow on its own.

The briefing also featured a recorded congratulatory message from Ethereum co-founder Vitalik Buterin. Creating spaces such as Ethereum forums for people to gather and discuss issues together is very important, he said. He added that he is looking forward to seeing what Korean builders produce with a range of institutions, including Ethereum-native companies.

Buterin also said he expects new ideas from people newly joining the Ethereum ecosystem. He said he hopes they will build applications that help create a freer, more open and safer financial ecosystem and internet.

Adrian Li, who oversees Asia partnerships at the Ethereum Foundation, also attended the briefing and underscored the consortium’s importance. When governments or banks seek to adopt Ethereum, a consortium such as Ethereum Korea should serve as an institutional point of contact as an expert group, he said.

Kang also raised the possibility of working with overseas consortiums in Japan, China and Hong Kong. Community-based Ethereum consortiums already exist in Japan and Hong Kong, he said, and alliances with them could be considered to strengthen influence within the Ethereum ecosystem. The Ticker Is ETH said a wide range of collaboration options remains open and that it will focus on keeping the consortium sustainable.