I second this. XERXIA is a new esports org/brand (lack of branding as a result) with a "relatively" small budget and support team compared to some of the other teams here (I know riot will be providing funds and as such this might not be as relevant as it would normally but admittedly, XERXIA has a lot of fans purely because of the players, not the org, and I'm sure there would be support no matter what org the players will play under).
What I do like about XERXIA (Aside from their logo and jersey, I heckin love pink btw so they deserve a slot for that solely), is they 'appear' to have a more international mindset and vision that could hopefully mean for an incentive and higher likelihood of shifting operations to S.Korea but again, the inexperience shows in their marketing team and social media - It all looks a little too unpolished for my liking and that sort of move seems too unlikely and turbulent.
I think what people are forgetting is that the ASIAN league is headquartered in Seoul, S.Korea and is where the matches will be played. It is simply easier and more convenient logistically to use orgs already established in Korea with proper facilities and bootcamps (Not to mention connections that may involve legal rights, visas etc. that all require knowledge from locals).
What I can envision, is a merging of orgs (Likely a Thai org like XERXIA and a S.Korean org). Perhaps, one of the lesser known Korean teams would prefer to capitalise on the Thai market and valorant fans, and choose to shift their focus towards that. This way, although they may not receive the full benefits due to the effect of the merging, they can tap in on a completely different market to the Korean one.
Again, everything in this post is leaks and speculations, so don't draw your conclusions yet people! Plenty can still change in the coming months.