"SAPC Requests Bank of Korea to Review Digital Financial Innovation Strategy… Including the Stablecoin Ecosystem"

The State Affairs Planning Committee (SAPC), serving as the presidential transition team for the Lee Jae-myung administration, officially requested the Bank of Korea to respond to digital financial innovation and raised the need for the establishment of a stablecoin-related ecosystem and the implementation of safety measures.

According to industry sources on the 27th, following a business report from the Bank of Korea, the SAPC’s Economic Planning Division announced that, in addition to discussing issues such as price stability, household debt management, and the effectiveness of monetary policy, it also made financial ecosystem innovation strategies for the digital transformation era a major agenda item.

Jung Tae-ho, Head of the Economic Planning Division, emphasized, "In order not to lag behind in this era of major economic transformation, it is necessary to pursue the creation of a digital financial innovation ecosystem such as stablecoins while also thoroughly reviewing institutional safety measures to minimize negative side effects."

In addition, the SAPC instructed the Bank of Korea to "operate monetary policy stably in response to risk factors such as household debt and the foreign exchange market, while also considering price stability and economic recovery in harmony."