South Korea is developing a Korean won stablecoin; first, learn from Hong Kong's approach, and don't rush to decide who will issue it.

According to Bloomingbit, Ji Man-soo, a senior researcher at the Korea Institute of Finance, stated that Korea can refer to Hong Kong's approach to developing a stablecoin framework around scenarios such as cross-border payments, domestic payments, tokenized asset trading, and supply chain finance when designing the Korean won stablecoin system. He believes that Korea should first assess the specific use cases and feasibility of the won stablecoin, clarify which financial and payment system issues it can solve, rather than deciding on the issuer first.