South Korea’s Digital-Asset Industry Needs to Be Built Around Homegrown Expertise

Ethereum Korea says it aims to bridge policymakers and the industry

Optimism says it is stepping up its push into South Korea

South Korea needs to foster a digital-asset ecosystem centered on domestic experts to strengthen the industry’s competitiveness, according to speakers at an Ethereum Korea luncheon. As the country moves toward formal rules for won-backed stablecoins and tokenized securities, communication between policymakers and the industry will be critical, they said.

Kang Yu-bin, chief executive officer of Nonce Classic, said at the event in Seoul’s Yeouido district on July 21 that the Ethereum Korea consortium serves as a bridge linking South Korean policymakers, the digital-asset industry and the global Ethereum ecosystem. The goal is to create an environment in which South Korea’s digital-asset industry can grow around local expertise instead of relying on overseas projects.

The Ethereum Korea consortium was launched in April with Nonce Classic playing a central role. The group aims to encourage participation in the Ethereum ecosystem by South Korea’s public sector and financial institutions.

Kang said policymakers, financial institutions and companies need a deeper understanding of Ethereum and more active participation as South Korea discusses digital-asset initiatives. Global financial institutions are already using Ethereum not just as an investment asset, but as digital financial infrastructure. South Korea should expand discussions and cooperation led by domestic experts in line with that trend.

Adrian Lee, the Ethereum Foundation’s head of Asia-Pacific policy, voiced a similar view. South Korea’s digital-asset industry should be led by Korean experts, he said. While the Ethereum Foundation can provide support, it cannot lead the country’s policymaking or industry in Korea’s place. He added that the foundation will actively support the Ethereum Korea consortium and help it build the ecosystem.

Optimism, which develops core technical infrastructure for the Ethereum ecosystem, said it sees strong potential in South Korea’s digital-asset market and plans to expand cooperation with Korean companies.

Oh Jae-hoon, Optimism’s South Korea lead, said the convergence of traditional finance and digital assets is becoming increasingly visible in the country. Optimism will work more closely with Korean companies and actively support the buildout of blockchain-based financial infrastructure, he said.

The company is already expanding cooperation with local companies and institutions, including Dunamu’s KiiChain, DB Financial Investment’s tokenized-securities project tailored to South Korea’s Jeju Island region, and Toss’s proof-of-concept work on a won-backed stablecoin. Oh said Optimism plans to continue helping Korean financial institutions and companies use blockchain technology while complying with regulations.

The event also drew representatives from financial institutions, the Korea Financial Investment Association and the legal sector, along with consortium participants including DSRV, Wavebridge and 4Pillars. They discussed the institutionalization of digital assets and ways to build blockchain infrastructure.