Hong Jun-pyo, a presidential candidate for the People Power Party, is exploring the potential introduction of a Central Bank Digital Currency (CBDC) and a Korean Won-pegged stablecoin (KRW stablecoin). This announcement, reported by News핌 on the 22nd, signals a potential shift towards embracing digital innovation in South Korea. Jun-pyo aims to dismantle restrictive regulations hindering the fintech and digital sectors. A key focus is addressing the "digital Galapagos" phenomenon, where South Korea's digital services are isolated from global advancements. By fostering a more open and competitive environment, he hopes to encourage innovation and attract international investment. The introduction of a CBDC and KRW stablecoin could modernize South Korea's financial infrastructure, potentially reducing transaction costs and increasing efficiency. It also positions the country to better compete in the global digital economy. The plans are subject to further consideration and regulatory review. ```
