New Bank of Korea governor focuses on CBDC, omits stablecoins in inaugural address

New Bank of Korea Governor Shin Hyun-song focused exclusively on Central Bank Digital Currency (CBDC) in his inaugural address, making no mention of stablecoins, Financial News reported. Shin stated that the central bank must proactively prepare for the future monetary system in response to digital financial innovation. He added that the Bank of Korea will enhance the use of CBDCs and deposit tokens through the second phase of Project Hangang and elevate the status of the Korean won in the digital payment landscape via international collaborations like the Agora Project. Shin had previously emphasized the importance of CBDCs during his confirmation hearing.