Tiger Research: In 2024, the transfer of funds from South Korean crypto assets to overseas exchanges and DeFi platforms will increase 2.3 times year-

According to a recent report from Tiger Research, despite South Korea's leading global cryptocurrency trading volume, the development of its Web3 industry is hindered due to unclear regulations and lack of specific guidance, which has resulted in capital, talent, and businesses accelerating their outflow. The report mentions that by 2024, South Korea's cryptocurrency assets transferred to overseas exchanges and DeFi platforms will increase by 2.3 times year-on-year, mainly due to local exchange service interruptions and external investment opportunities. In addition, South Korean Web3 companies such as Nexpace, Klaytn, and Wemix have relocated their headquarters to regulation-friendly countries such as the United Arab Emirates.

The report also points out that talent outflows have exacerbated the decline in South Korea's Web3 ecosystem's technological competitiveness, while countries such as the United States and the United Arab Emirates have attracted high-end technical talents through clear policies. If South Korea wants to maintain its competitiveness in the global Web3 industry transformation in 2025, it needs to urgently promote regulatory reform, allow corporate accounts to engage in encrypted transactions, and formulate stablecoin and DeFi-related policies to build a sustainable innovation ecosystem.