A16z Crypto Opens Seoul Office to Lead Asia Expansion with Sungmo Park
A16z Crypto has opened its first Asia office in Seoul, appointing Sungmo Park to lead its Asia efforts. Park, the former APAC lead at Monad Foundation and previously with Polygon Labs, will oversee go-to-market strategies and ecosystem development across East Asia, Greater China, Southeast Asia, and India.
The new Seoul office aims to build partnerships, strengthen distribution channels, and accelerate community growth throughout the region. Seoul was chosen for its proximity to crypto builders rather than traditional financial centers. South Korea is considered the world's second-largest crypto market, with nearly one-third of Korean adults owning cryptocurrency.
The Asia expansion strategy also takes into account increased onchain activity in Japan and high crypto ownership rates in Singapore. While Hong Kong and Singapore remain traditional financial capitals, Korea is positioned by A16z as a crypto development hub for the region.
Through this expansion, A16z Crypto intends to collaborate with both early-stage teams and established enterprises to foster growth and support founders across Asia.
