This move by Korea depends on the implementation scenario; issuing licenses alone is not enough, they need to first figure out where the money will flow.

Crypto Jie News, according to Bloombergbit, reports that Choi Man-soo, a senior researcher at the Korea Institute of Finance, said policymakers should prioritize reviewing the specific use plan and feasibility before deciding on the issuer of a Korean won stablecoin. He noted that the Hong Kong Monetary Authority has granted stablecoin issuance licenses to HSBC Hong Kong and Anchorpoint Financial, covering scenarios such as cross-border payments, domestic payments, tokenized asset trading, and supply chain finance, and that it is moving forward in coordination with digital financial strategies such as CBDC and tokenized deposits. Choi Man-soo suggested that discussions on a Korean won stablecoin should begin by addressing issues in the domestic financial and payment systems, while also jointly designing specific applications for payments, asset tokenization, and trade financing.