RegulationBlockchain
|3 min ReadInside Korea Blockchain Week 2025: Seoul’s Next Crypto Surge
Maya Chen
Senior Analyst
Published
Jan 16, 2026
Korea Blockchain Week 2025 wasn’t just another conference — it felt like a preview of what happens when culture and crypto collide at full speed. The country is a digital powerhouse with one of the world’s most online populations and one of the biggest centralized exchanges, UPbit. There’s no capital gains tax on crypto yet, and gambling is banned. That combination fuels wild trading energy. One attendee said their Uber driver was literally trading perpetuals at a red light.
S.Y. Lee, CEO of Story Protocol, shared data from Kaiko that shows just how deep Korea’s influence runs. The Korean Won now trades against crypto more than any other currency — even the U.S. dollar.
This demand premium is so strong it has a name: the “kimchi premium.” Tokens on Korean exchanges often trade higher than elsewhere, a price signal driven by relentless local appetite.
Then came a bombshell: Naver, Korea’s internet giant, confirmed its acquisition of UPbit in a full stock swap with Dunamu. Naver’s plan is clear — to build a crypto-powered superapp that merges payments, social, and finance. Reports say they’re even exploring a stablecoin in Korean Won. This is not a side hustle. It’s a national play for digital dominance.
Culture meets crypto
Korea is not just tech-savvy — it’s culture-rich and export-ready.
The country ranks second globally for paid ChatGPT subscriptions, right behind the U.S. Its cultural dominance is everywhere: the biggest YouTube video, top Netflix show, number-one boyband, and viral soundtracks that circle the globe. That same energy now flows into crypto.
At KBW2025, the crossover was real. K-pop stars, athletes, and film directors shared panels with builders and investors. It wasn’t just the usual conference circuit — locals showed up in droves. Crypto here isn’t a subculture. It’s becoming part of mainstream life.
Winning the Korean market
Success in Korea takes more than translation. It takes presence.
Koreans back local champions — that’s why Naver dominates over Google. Founders entering the market need to be here, shake hands, and show up. Business development runs on trust, not just tech. The focus is less on protocol specs and more on legitimacy, partnerships, and launches that prove staying power.
Traditional marketing still works. Few Koreans are fully onchain yet, and women — who often manage household finances — remain a key demographic outside Crypto Twitter. That means clear messaging, strong branding, and physical engagement matter.
And giveaways? Massive.
Every booth at KBW2025 ran raffles or swag drops. Attendees queued patiently for merch, collectibles, and token prizes. It’s part of the culture. Airdrops are expected, not optional. If you’re launching a product in Korea, you better be ready to give something back.
Founders who take the time to understand these nuances can win big. The opportunity is real — a young, connected population hungry for innovation, and a market where crypto isn’t taboo.
Korea isn’t waiting for the world to bring web3 to it. It’s building web3 on its own terms — fast, loud, and local.
Disclaimer: This document is intended for informational and entertainment purposes only. The views expressed in this document are not, and should not be taken as, investment advice or recommendations. Recipients should do their own due diligence, taking into account their specific financial circumstances, investment objectives and risk tolerance, which are not considered here, before investing. This document is not an offer, or the solicitation of an offer, to buy or sell any of the assets mentioned.