Challenges and Opportunities

The rise of Web3 has opened up new opportunities for both businesses and individuals to participate in the development of decentralized applications and protocols. Yet, the Korean market faces unique challenges and opportunities in this emerging field.

For Businesses:

• Given cultural differences, language barriers, complex regulations, and lack of network, only a handful of companies, amongst many, succeed in penetrating the Korean market.

• Due to Web3 being nascent, there is a shortage of early adopters, builders, and enthusiasts to participate in the very early stages of product/service development.

• Crypto VCs tend to exit hastily, solely focusing on their maximum profitability.

For Individuals:

• Korean retail investors are restricted from token sales platforms, such as Coinlist and Republic Crypto. Thus, retail investors have no way to partake in any gains resulting from the seed/private investments of Crypto VCs being profitable (with returns from the past 7 years shown on coinmarketcap).

• When listed on Korean exchanges, token prices tend to be at their highest, which causes retail investors to buy at the maximum prices and end up becoming the dumping ground for overseas exchanges.