CoinVoice has recently learned, according to the Korea Economic Daily, that the Governor of the Bank of Korea, Lee Chang-yong, has expressed a cautious attitude towards the launch of a Korean won stablecoin. Lee Chang-yong stated, "While not opposing the Korean won stablecoin, we need to consider factors such as foreign exchange market stability and changes in the banking structure. There are concerns that the Korean won stablecoin may increase the demand for US dollar stablecoins, which could complicate foreign exchange management. The active use of stablecoins may lead to a shift in payment and settlement functions from the banking sector to the non-banking sector, impacting the revenue structure and business model of banks."

The Bank of Korea has been conducting experimental research on Central Bank Digital Currency (CBDC), but the formal issuance of stablecoins requires coordination with financial regulatory authorities. Lee Chang-yong stated that he will coordinate policies with the Ministry of Finance, the Financial Services Commission, and other departments, taking into account the positive functions and potential risks of stablecoins. [Original link]