Korean Wii that is region changed (usually to 4.XU) and updated will result in error #003 brick. Usually there's no way to unbrick this from what I've read in the bricked section. No vulnerable IOS = cIOSCorp installed. I think that was your saving grace in terms of unbricking, if memory serves from all the posts I've read.
Formatting <> virginizing, sorry. Freezing could be due to cIOSCorp still installed (likely), or using an incompatible SD card (2gb or less full SD and formatted to FAT32 --- no MicroSD/SDHC stuff).
Look here for one solution, and here for a long term solution after performing the first.
Failing the above option, you can try this and the posts/threads in-thread linked by mauifrog. Good luck.