IBK (Industrial Bank of Korea) and Shinhan Financial Group are locked in a competition to launch KRW (Korean Won) stablecoins, evidenced by recent trademark filings. This move signals a growing institutional interest in the Korean stablecoin market. IBK filed for 10 trademarks on the 27th, including 'IBKKRW,' 'IBKRW,' and 'ONEIBK,' targeting services like "stablecoin electronic transfer business" and "blockchain-based digital financial asset management." Shinhan Financial Group followed closely, filing 21 stablecoin-related trademarks on the 26th, such as 'KRWSHB,' 'SFGKRW,' and 'SHKRW,' covering areas like "cryptocurrency financial transaction business" and "cryptocurrency brokerage business." This competition highlights the potential for KRW stablecoins to revolutionize digital transactions and financial services within South Korea. The race to establish a dominant presence in this emerging market is clearly underway. ```