Bank of Korea to Discuss Won-Pegged Stablecoin on June 23

The Bank of Korea is set to discuss the potential introduction of a stablecoin pegged to the South Korean won during a meeting scheduled for June 23. The session will be led by central bank Governor Lee Chang-yong and held at the Bank Hall in Seoul’s Jung-gu district. Vice Governor Park Jong-woo, recognized for his expertise in monetary policy and financial markets, will also attend.

The meeting aims to evaluate the implications of issuing a won-based stablecoin—a move that could significantly influence the country's digital currency framework. The Bank of Korea has previously approached the idea with caution, expressing concerns about the impact such a stablecoin could have on the effectiveness of monetary policy and the stability of the financial system, especially in relation to non-bank entities.

The upcoming event will bring together top executives from commercial banks and marks one of South Korea's most significant initiatives in the area of digital assets and stablecoins to date.