On May 20, 2025, Lee Jae-myung, leader of South Korea's Democratic Party, proposed a stablecoin pegged to the Korean won to address the substantial capital outflows linked to foreign stablecoins, particularly USD-pegged assets.
The plan aims to enhance South Korea's financial sovereignty and mitigate reliance on foreign digital assets, which have caused nearly 28.4 trillion won in outflows.
To ensure stability, the proposal suggests a 'one-to-one reserve system' along with government monitoring and reduced transaction fees, amidst ongoing debates on its implications within South Korean politics.
Full story here: https://coincu.com/338657-south-korea-won-stablecoin-proposal