[Global Crypto Assets & Finance Conference 2021] “Experience Sharing on Wengergy’s Asian Operations: The Market Characteristics and Differences in China, Korea, and Indonesia”_Louise Shen, CEO at Wenergy
- Global Crypto Assets & Finance Conference 2021
- Host: Delio, Korea Crypto Finance Association (KCFA)
- Date: January 27th — January 29th, 14:00–16:10
- Website: https://conf.delio.io
Session 3: Crypto Asset related Systems and Regulations
▣ Experience Sharing on Wengergy’s Asian Operations: The Market Characteristics and Differences in China, Korea, and Indonesia_Louise Shen, CEO at Wenergy
During her speech, Louise Shen talked about the market characteristics and differences in China, Korea, and Indonesia. She categorized China as being a big market and Korea and Indonesia as small markets. She shared that Korea and Indonesia are resource-intensive markets where 70%-90% of crypto practitioners and investors are centralized in Seoul and Jakarta.
Whoever Wins Korean Users Wins the World
Louise Shen began by talking about the market characteristics in Korea. She introduced the Korean market as having 5,000,000 crypto investors with over 100 exchanges but emphasized that there is no one popular wallet as Korean citizens just treat the exchange as their wallet. Also, she highlighted that in Korea, the age group of investors are more towards their 40s which means that the average crypto deposit per capita is much higher in Korea than China and Indonesia. In conclusion, she said that the core factors to explore the Korean market are localization and finding a trusted partner.
Indonesian Market, the Love of European & American Projects
She introduced Indonesia as the largest crypto market in Southeast Asia with about 2,000,000 investors. Louise explained that there is a high ROI for projects. She continued by saying the cost of marketing expense is 50% of the cost in the Chinese or Korean market and that there is an active volume. She also spoke about Indodax, which is the largest exchange in Southeast Asia which occupies 90% of investors. Two things she stated as the core factors to explore the Indonesian market were community and KOL as well as token listing.
Chinese Market: The Best Choice of All-time
Louise Shen introduced the Chinese Blockchain market as the most comprehensive industrial chain in Asia. She added that the Chinese market is about 3–6 months ahead of the Korean market and 6 months ahead of Indonesia. The core factors to explore the Chinese market was mentioned as localization and having a trusted partner.
Regulation VS Innovation
Lastly, Louise spoke about how Korea is the regulation leader in Asia but said that there are restrictions on innovation. On the other hand, in China, she mentioned that they are still in a gray area in the crypto market, pushing the market towards globalization.
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