[Blooming Lunch] Park Kwang-sung "Grew quickly, experienced growing pains intensely"

Park Kwang-sung, CEO of A41

Connection with Nonce in the military

'Serial Entrepreneurship' in the Crypto Scene

Secured '15 billion KRW' in seed investment

"Started from 'livelihood' concerns"

'Meeting good people and having good conversations.' This is the basic purpose of Blooming Lunch. We meet good people in the Crypto Scene (blockchain and virtual asset ecosystem) and share their work and life.

I first met Park Kwang-sung, CEO of A41, last February. At that time, CEO Park attended the virtual asset (cryptocurrency) conference 'Consensus Hong Kong 2025' as a speaker. He pointed out that Korea's low birth rate could lead to economic collapse during a session on the Korean virtual asset industry. CEO Park was the first speaker to clearly mention social issues in that session.

About two months later, I met CEO Park again in Korea. The location was Samho Bokjip in Seocho-gu, Seoul. It is a pufferfish restaurant that opened in 1988 and is located near the A41 office. When asked to choose a restaurant, CEO Park chose this place without hesitation.

When I met CEO Park at the restaurant, he was wearing a black T-shirt with the A41 logo on his chest. He wore a similar T-shirt when he stood as a speaker on the 'Consensus Hong Kong' stage. At that time, the T-shirt had the blockchain term 'Epoch' written on it, which is a term often used in the validator industry.

Joined Nonce in 2018

I sat with CEO Park in a room and ordered a lunch special for two. It is a kind of 'set menu' consisting of Samho Bokjip's signature dishes such as pufferfish soup, fried pufferfish, and pufferfish bulgogi. While waiting for the food, I asked CEO Park what led him to become interested in the Crypto Scene. He said, "I learned about virtual assets and blockchain during my military service," and "After that, I naturally entered the Crypto Scene as if flowing with the water."

The trigger was the domestic blockchain community 'Nonce'. CEO Park served as an interpreter officer in the military and first met Nonce co-founders Moon Young-hoon and Ha Si-eun there. He explained, "(Due to my military service) I frequently visited the early Nonce community in Yeoksam-dong, Seoul, right after being discharged," and "I joined Nonce in 2018 when it started to pursue commercialization in earnest." He then served as Nonce's Chief Operating Officer (COO) until 2019.

While talking, fried pufferfish and pufferfish bulgogi were served together. The pufferfish bulgogi was spicy but not overwhelming, and the fried pufferfish, with its abundant pufferfish meat, was crispy and savory. The yellow tint from the gardenia was also impressive.

Not long after, the pufferfish soup was served. The broth, made with fresh pufferfish, clams, and vegetables, was refreshing and clean. Although not included in the lunch special, pufferfish shabu-shabu is also a recommended dish. Blue Ribbon introduces it as "Pufferfish shabu-shabu, where thinly sliced pufferfish meat is rolled with mushrooms and vegetables and lightly cooked, is also popular."

Established 'Faraday' in Buam-dong

I continued the conversation with CEO Park while sharing pufferfish dishes. After leaving Nonce in 2019, he founded the virtual asset consulting company 'Faraday' with military acquaintances he met during his service. The core business was supporting the entry of overseas blockchain projects into Korea. CEO Park explained, "(Faraday) played a role in supporting the portfolio companies of domestic and foreign virtual asset venture capitals (VCs)," and "There were many communication-based businesses such as interpretation, translation, and funding support."

The Faraday office was in a detached house on a hill in Buam-dong, Jongno-gu, Seoul, which he obtained through an acquaintance. CEO Park lived and worked there with his Faraday colleagues from 2019 to 2021. He recalled, "I remember buying ingredients from a nearby market and cooking dishes like tofu hot pot," and "Although there was anxiety about the future, it was a time that made life 'colorful'."

Faraday closed in 2021, shortly after the spread of COVID-19. The impact of the pandemic 'shutdown' significantly reduced domestic and international exchanges. After that, CEO Park went through the domestic blockchain company DSRV and founded A41. A41 secured 15 billion KRW in seed investment the year after its establishment. It was an achievement made in 2022 when the domestic VC industry faced an 'investment cold wave'.

Initially, A41 started as a research company, but during the investment attraction process in 2022, it expanded its business area to a validator considering future growth potential, according to CEO Park. He said, "For validators, sales are as important as technology," and "I judged it to be a business where I could leverage the domestic and international networks built in the virtual asset industry."

To become a global 'Top 10' validator

As a result, A41 has rapidly grown into a top 10 global validator based on asset delegation volume. Currently, the virtual assets that A41 supports staking for include Ethereum (ETH), Sui (SUI), Aptos (APT), and a total of 16 types. CEO Park stated, "The company has grown compactly from 2022, when we attracted investment, to now," and "As fast as the growth speed is, there were many growing pains." He added, "Since last year, as the company has entered a stabilization phase, we are also investing in the development of new technologies such as Zero-Knowledge Proof (ZKP)."

As we talked about A41, the meal ended. CEO Park and I left the restaurant and headed to the 20th floor of the shared office 'DreamPlus Gangnam', where the A41 office is located. The 20th floor, the top floor of DreamPlus Gangnam, has a lounge and cafe for meetings, etc. We continued our conversation there while ordering an Americano.

We took a seat on one side of the lounge with our coffee. CEO Park said, "Looking back, entering the Crypto Scene started from concerns about 'livelihood'," and "Honestly, there was no grand reason like 'I have to dedicate my life to this'." He continued, "However, in the Crypto Scene, (most members) have the pride that they are contributing to creating the future in the form they think," and "(This pride) seems to be the main driving force that allows them to work in the Crypto Scene regardless of the ups and downs of the virtual asset market."

When asked about his weekend schedule, CEO Park said, "I usually go to the department store cultural center with my child." CEO Park, who got married in 2022, is the father of a 3-year-old daughter. He said, "Recently, the class I attend with my child is 'TnT'," and "It's a program where you overcome obstacles and make model food." He added, "When my child takes a nap on the weekend, I buy coffee with my wife at a regular cafe and watch Netflix," and "Once a week, I take time to have a meal alone with my wife."

After finishing the interview, I had a light conversation with CEO Park before parting ways. An A41 employee who was waiting for CEO Park was in the 20th-floor lounge. CEO Park escorted me to the elevator and, after saying goodbye when the elevator arrived, hurriedly moved towards the employee in the lounge.

This interview was not supported or financially compensated by any specific restaurant or brand, and it was conducted without commercial intent. The purpose of the 'Blooming Lunch' corner is to capture a free interview in a casual atmosphere at the interviewee's preferred regular restaurant.