South Korea releases roadmap for internationalization of Korean won, plans to issue Korean won stablecoin and launch government bond tokenization pilot

According to ETNews, the South Korean government has released a roadmap for the internationalization of the Korean won, planning to build an offshore Korean won settlement network. It is expected to be put into trial operation in September and officially launched in January next year. The Bank of Korea will build a digital asset payment infrastructure to support the Korean won denominated stablecoin, and plans to launch a government bond tokenization pilot next year to achieve linkage with CBDC. South Korea has officially joined Agora, a cross-border digital payment project led by BIS.