Korean Crypto Culture: Why Koreans Love Crypto, But Not DeFi.
My personal insight, coupled with interview responses from two actual Koreans who work in crypto.
After spending eight years in Korea, I recently decided to take a break and move back to Europe.
In my time there, I worked for a Korean crypto exchange for four years. This experience taught me a lot about the Korean crypto market.
I saw many differences between how Koreans and Westerners approach crypto. Even though Korea has a strong crypto culture, I think it's often overlooked on western dominated Crypto Twitter.
In this blog post, I share about what makes the Korean crypto culture so special, and why Koreans are not big fans of DeFi.
I will also share insights from my friends Doo Wan Nam, who serves as the COO at StableLab and is a Growth AVC member at MakerDAO, and Garlam Won, the Managing Partner at Momentum 6. They've provided me with great insight into the Korean crypto scene.
And you’ll learn about the unexpected connections between a fishing net, fermented cabbage, and the crypto industry in Korea.