The Governor of the Central Bank of Korea has a cautious attitude towards the launch of the Korean won stablecoin.

According to the Korea Economic Daily, Bank of Korea Governor Lee Chang-yong said he was cautious about the launch of the won stablecoin. Lee Chang-yong said that although he does not oppose the won stablecoin, it is necessary to consider factors such as the stability of the foreign exchange market and changes in the structure of the banking industry. There are concerns that the South Korean won stablecoin may increase the demand for the US dollar stablecoin, which will bring difficulties to foreign exchange management. The activity of stablecoins may lead to a shift in the payment and settlement function from the banking industry to the non-banking industry, affecting the revenue structure and business model of banks. The Bank of Korea has been conducting experimental research on central bank digital currencies (CBDCs), but the official issuance of stablecoins requires coordination with financial regulators. Rhee Changyong said that he will coordinate policies with the Ministry of Finance, the Financial Commission and other departments to comprehensively consider the positive functions and potential risks of stablecoins.