Lee Eok-yeom "Considering a Korean-style blockchain mainnet for won stablecoins that could replace Ethereum"

Lee Eok-yeom, nominee for Financial Services Commission chair, suggested the possibility of introducing a Korean-style blockchain that could replace Ethereum (ETH) with regard to the infrastructure of won stablecoins (virtual assets whose value is pegged to fiat currency).

At a confirmation hearing for the Financial Services Commission chair held at the National Assembly on the 2nd, the nominee said regarding stablecoins, "Currently, mainnets used to issue stablecoins include Ethereum (ETH), TRON (TRX), etc., and I will consult with relevant ministries to establish a blockchain mainnet suitable for Korea that can replace them."

The nominee also agreed on the need to promote the blockchain industry. Asked, 'Do you think that if the state establishes blockchain it can create national wealth?', he said, "I will review how to find ways to connect it to new innovation or new industries that create added value."