South Korea’s Push for a KRW Stablecoin
In a bold move reflecting South Korea’s commitment to remain competitive in the digital asset landscape, lawmakers affiliated with presidential candidate Lee Jae-myung have urged the government to accelerate the launch of a KRW stablecoin. This call to action emphasizes the urgency for Seoul to establish itself as a leader in the digital currency sector, especially in light of the growing prominence of USD-pegged stablecoins such as Tether (USDT) and USD Coin (USDC).
Support from Political Figures
Min Byoung-dug, chair of the Democratic Party’s Digital Asset Committee and a staunch supporter of Lee, expressed the view that stablecoins might soon rival industries like artificial intelligence and semiconductors.
“Stablecoins could potentially outpace sectors that are currently viewed as the backbone of innovation.”
This statement underlines the perceived potential of stablecoins to transform economic structures and investment landscapes, pushing South Korea to prioritize development in this arena.
