Chainlink Partners With LG CNS to Build Won Stablecoin Infrastructure

Chainlink, the blockchain oracle network behind LINK, has formed a strategic partnership with LG CNS, the IT services arm of South Korea’s LG Group, to expand the domestic market for won-denominated stablecoins.

Chainlink and LG CNS announced the partnership on Oct. 22, according to crypto media outlet The Block, with the aim of upgrading infrastructure for South Korea’s digital-asset market. The two companies plan to focus on broadening the use of won-pegged stablecoins and laying the groundwork for their circulation.

South Korea currently lacks a clear legal basis for the commercial issuance and trading of won stablecoins. The government and the National Assembly are pushing to enact a Digital Asset Basic Act that would include rules for won stablecoins. The Block reported that the number of potential won stablecoin users in South Korea exceeds 11 million.

Beyond stablecoins, LG CNS plans to integrate Chainlink’s cross-chain, data and orchestration infrastructure into its institutional digital-asset platform. The two companies also plan to cooperate on efforts to refine South Korea’s digital-asset framework.

"Korea’s financial infrastructure is entering the tokenization era," Kim Hong-keun, head of LG CNS’s digital business division and a vice president, said. He added that, together with Chainlink, the company would accelerate growth in Korea’s tokenized securities market based on secure interoperability and real-world data, while building a foundation for global expansion.

LG CNS is also the lead contractor for Project Hangang, the Bank of Korea’s digital currency project. LG Group is one of South Korea’s largest conglomerates, with about $134.8 billion in assets across 63 affiliates.