Democratic Party Pushes to Establish 'Digital Asset Exchange' in Local Hubs

Son Min

Summary

The Democratic Party announced plans to establish a 'Korea Digital Asset Exchange' headquartered in major local cities.
This exchange is expected to operate through a consortium with global virtual asset exchanges.
Candidate Lee Jae-myung has pledged to foster the virtual asset industry and plans to swiftly implement related policies through a presidential committee if elected.

The Democratic Party of Korea is pushing to establish a 'Korea Digital Asset Exchange' headquartered in major local cities.

According to political circles on the 27th, the Democratic Party's election committee has recently begun discussions on establishing a digital asset exchange with such plans.

It is reported that the exchange is being considered to operate through a consortium formed by local governments, commercial financial institutions, and global virtual asset exchanges, each holding shares.

While existing private virtual asset exchanges have focused on coin trading, the exchange envisioned by the Democratic Party aims to expand the scope of trading while achieving policy objectives such as creating youth jobs.

The development of the virtual asset industry, including the Korean won stablecoin, is one of the key pledges of Lee Jae-myung, the Democratic Party's presidential candidate. As Lee views virtual assets as a future growth industry, it is expected that, if elected, he will implement policies swiftly through a presidential committee.