Stablecoins: South Korea’s Bold New Bet on Monetary Sovereignty

Krutika Adani

Why South Korea Wants Its Own Stablecoin

Newly elected President Lee Jae Myung is pushing to legalize Korean won-pegged stablecoins to fight capital outflows and reclaim monetary independence. The goal? Reduce USD reliance and power local digital innovation.

Critics Warn: ‘Won Can’t Compete with the Dollar’

Experts argue the KRW lacks global demand and stablecoin adoption could backfire — enabling speculation, capital flight, and creating a backdoor for state surveillance under the guise of private-sector tokens.

Stablecoins for K-Content, E-Commerce, and Travel

Lawmakers say demand is real. Korea’s export industries, from gaming to cosmetics, need efficient cross-border payment rails — and a won-backed stablecoin could cut costs and boost access.

Regulation or Overreach?

The Digital Asset Basic Act promises private-sector-led stablecoins, not central bank digital currencies (CBDCs). However critics say the plan lacks focus on decentralization and user

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