South Korea releases a roadmap for the internationalization of the Korean won, which will issue Korean won denominated stablecoins and plans to launch a pilot program for the tokenization of government bonds next year

According to South Korean media ETNews, the South Korean government issued a "Roadmap for Internationalization of the Korean won" with the goal of promoting the transformation of the Korean won from a regulated currency to a freely convertible currency and building an offshore Korean won settlement network. It is reported that the Bank of Korea will launch the "Offshore Korean Won Settlement Network"(tentative name), which is expected to be put into trial operation in September this year and officially launched in January next year. At the same time, digital asset payment infrastructure will also be built to lay the foundation for the issuance, distribution and trading of won denominated stablecoins. It is planned to launch a pilot project next year to promote the tokenization of government bonds linked to the Bank of Korea's Institutional Digital Currency (CBDC). In addition, South Korea will also formally join the cross-border digital payment project "Agora" led by the Bank for International Settlements (BIS) and bringing together central banks of eight countries.