Digital Hegemony Competition Intensifies… Min Byung-deok: "Korea Must Not Miss the Golden Time"

Digital Asset Global Competition and Korea's Strategy Forum Held

Min Byung-deok, a member of the Democratic Party of Korea, announced on the 2nd that a National Assembly forum titled 'Digital Asset Hegemony Competition and Korea's Strategy: Trump Administration Policies and the Future of Technological Innovation' was held at 2 PM in the 7th Conference Room of the National Assembly Members' Office Building, in collaboration with the Digital Asset Policy Forum.

The forum was attended by academic, industry, and policy experts to analyze the impact of the US-China hegemony competition surrounding digital assets and the policy changes of the Trump administration on the global market and Korea, and to explore Korea's strategic response.

In his opening remarks, Representative Min emphasized, "Digital assets are now a key tool in global hegemony competition and a central axis of national strategy," adding, "As the Trump administration's policy changes can shake the global digital order, Korea is in a golden time to establish a proactive and leading response strategy."

Representative Min has been actively engaged in legislative activities to institutionalize the digital asset industry. In the last national audit, he strongly criticized the poor listing review of domestic exchanges and the lack of investor protection measures, urging the introduction of a 'Coin Real-Name System' and the enactment of the Virtual Asset Business Rights Act. He stated, "If reckless listings continue, a second Luna incident is only a matter of time," and is leading efforts to overhaul the system for transparency and trust recovery.

The first presenter, Professor Kim Sang-bae of the Department of Political Science and International Relations at Seoul National University, presented on 'The Trump Administration and Global Hegemony Competition and Digital Assets,' analyzing how digital technology is breaking down the boundaries of military, economic, and political spheres and emerging as a central axis of hegemony competition. Professor Kim particularly emphasized, "The technological and standard competition between the US and China surrounding AI, blockchain, and stablecoins has already become a new battleground of geopolitics," highlighting Korea's strategic choices from a complex geopolitical perspective.

Following this, Professor Lee Jong-seop of Seoul National University, in his presentation 'The War of Digital Money – Focusing on the Stablecoin Market,' pointed out that the US is strategically utilizing stablecoins to secure the digital dollar's dominance. He stated, "The digital dollar, which can be used anywhere in the world with just a smartphone, is already reshaping the internet of money," adding, "It is now time for Korea to establish a won-based stablecoin strategy."

Professor Ryu Kyung-eun of Korea University School of Law, in her presentation on 'Trends in US Digital Asset Legislation and Implications,' emphasized the possibility that the US Congress's move to clarify regulations could become a global policy standard. She warned, "If Korea falls behind in institutional reform, it could be pushed to the periphery of the international digital financial order."

Representative Min Byung-deok, who hosted the forum, stated, "Based on today's discussions, the National Assembly, government, and industry must come together to practically develop strategies to protect Korea's digital sovereignty," adding, "I will continue to expand the forum for legislative and policy discussions related to digital assets."