Ha Tae-kyung, President of the Insurance Research Institute: "The Korean Won Stablecoin Can Be Fostered as the World's Second-Largest Currency"

Ha Tae-kyung, president of the Insurance Research Institute, diagnosed that the competition for stablecoin-based currencies has become full-scale and emphasized that Korea should seize this opportunity to foster the 'Korean won stablecoin' as the world's second-largest currency.

On the 24th, President Ha appeared on cpbc radio program "Kim Jun-il's News Sympathy" and said, "There is a global currency war underway," and added, "If we give up on the won stablecoin, we will end up being swept away by the dollar stablecoin." He continued, "The Korean won stablecoin is not for Koreans, but so that people around the world can use it." He explained, "By leveraging the overwhelming influence of the Korean Wave to attract foreigners to Korea and increasing its online utility, we have a real chance of success."

President Ha suggested innovative policies, such as providing foreign tourists with the Korean won stablecoin. He said, "For example, let's give 1,000,000 won worth of won stablecoin to foreign tourists. If it can only be used domestically, more will come." He predicted, "With this approach, the won stablecoin could become the world's leading currency after the dollar."

He also stated, "Korea's GDP alone does not measure up to China or Japan, but if we strategically enhance the nation's cultural appeal and global connections, there is enough value in aiming for the 'world's second-largest currency.'"

Furthermore, President Ha stressed the need to foster Busan as a special zone for virtual assets (cryptocurrencies). He noted, "Domestic cryptocurrencies are discriminated against as 'kimchi coins' and it is difficult for them to be listed in Korea." He added, "If Busan is designated as a special zone where listing, screening, and disclosure are possible, investment advisory, Coin Bank, disclosure institutions, and more could be established there." He went on to say, "A blockchain special zone alone is not enough. The scope should be expanded to a pilot special zone including cryptocurrencies."

As president of the Insurance Research Institute, he emphasized strengthening cryptocurrency education infrastructure. He said, "We are preparing a 'Crypto School' to teach sound investment rather than gambling," and explained, "It is necessary to establish a comprehensive system for disclosure, evaluation, screening, and education in the crypto ecosystem."

He continued, "Artificial Intelligence (AI) and cryptocurrency are national strategic industries," and added, "I want to establish a national vision based on these two pillars and achieve innovative management results as president of the Insurance Research Institute."