Bank of Korea Deputy Governor Ryoo Sang-dai spoke on who will be allowed to issue digital won first. Eight of the country’s largest banks plan to form a joint venture to develop a KRW stablecoin.

The senior deputy governor of South Korea's central bank said it was desirable to introduce won-denominated stablecoins at a gradual pace, first with rigorously-regulated commercial banks.

The head of South Korea’s central bank reportedly said he isn't against the issuance of a won-pegged stablecoin, but was wary of possible foreign exchange issues. Listen 0:00 6023 ...

Earlier this month, the Bank of Korea held its benchmark policy rate at 2.75% in its April meeting, saying "it is necessary to remain cautious about the impact of heightened exchange rate volatility." ...