Transformation of the South Korean Web3 Market: From Speculation to Industrial Ecology

In the first quarter of 2025, the South Korean Web3 market will experience an important turning point. This market, once regarded as the "liquidity export" of global projects, is gradually transforming into a structured, autonomous industrial ecosystem.

Improvement of Regulatory Environment Promotes Market Development

The roadmap released by the Financial Services Commission marks significant progress. The roadmap relaxes the restrictions on corporate participation in cryptocurrency trading in three phases:

1. First phase ( Starting from Q2 2025 ): Accounts will be opened to law enforcement agencies, non-profit organizations, and exchanges, for clearing purposes only.
2. Second Phase ( Second half of 2025 ): Allow professional investors such as listed companies and registered investment companies to trade.
3. Third Stage ( Medium to Long Term ): Fully Open the Market to Ordinary Enterprises

This policy change is expected to lay a legal foundation for South Korean companies to engage in Web3 business, enhance market stability, and promote diversification of financial services. However, the phased relaxation of regulations may also bring risks such as supply and demand imbalances, which deserve attention.

Global Projects Support Local Ecosystem Development

Several internationally renowned projects are actively establishing themselves in South Korea, aiming to cultivate a sustainable builder community.

• Avalanche regularly holds demo days to showcase practical products and attract users.
• The TON Foundation has launched the "TON Society Korea Builder" program, providing systematic support.
• Ripple and Solana host a large-scale hackathon to nurture local developers.

These initiatives have gone beyond short-term marketing and are nurturing a new generation of Korean Web3 builders, laying the groundwork for the internationalization of local projects.

Infrastructure and Institutional Innovation

The "Han River Project" of the South Korean central bank's digital currency has completed its first real-world transaction with retail users. Major commercial banks are also beginning to explore the issuance of a Korean won stablecoin. Regulatory authorities are considering a new model that would allow exchanges to collaborate with multiple banks, which is expected to enhance market flexibility.

In summary, the South Korean Web3 market is at a critical stage of transitioning from a speculation-driven phase to a mature industrial ecosystem. With policy support, institutional participation, and gradual industry growth becoming evident, South Korea is expected to play a more significant role in the global wave of Web3 innovation.