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[Significant Price Deviations of Stablecoins on South Korean Virtual Asset Exchanges, Industry Calls for Improved Mechanisms] Recently, South Korean virtual asset exchanges have experienced significant price deviations in fiat currency-pegged stablecoins. For instance, JPYC surged to as high as four times its benchmark price after listing, EURC skyrocketed over 400% in a single day on Bithumb, and PYUSD showed a noticeable premium. The volatility stems from insufficient initial circulation combined with concentrated buying during the early stages of listing, unrelated to the issuer's reserve assets. The industry is calling for the establishment of mechanisms such as initial circulation guarantees, market makers (MM), and liquidity providers (LP) during the design phase of the Korean won stablecoin system. Additionally, they advocate for the introduction of measures like public disclosure of price deviation rates and restrictions on market orders.