KRW Stablecoins Need a Decentralized, Tech-Driven Model to Compete Globally

As momentum builds around the issuance of KRW-based stablecoins, experts emphasize the need to shift from a centralized, deposit-based model to a technology-driven decentralized ecosystem. Kim Hyung-joo, Executive Director of the Korea Blockchain Industry Promotion Association, called for the Financial Services Commission’s sandbox system to adopt a tech-based evaluation framework. Professor Myung-Ryeol Choi of Hanyang University also stressed that building a Web 3.0-based decentralized payment infrastructure is essential for competing with global stablecoins like Tether.

Attorney Ohoon Kwon of Cha & Kwon Law Offices proposed a fairer selection process for issuers through public bidding and an evaluation committee composed of legal and technical experts. Anti-money laundering specialist Dr. Ji-Yeol Jung highlighted the importance of preemptive monitoring systems, such as FDS and AML tools, to manage financial risks. Industry leaders noted that private companies are already capable of implementing real-time payment systems and integrating real-world assets (RWA) and security tokens (STO).

Experts unanimously agree that a technology-driven issuance model and the adoption of decentralized platforms are key to ensuring the global competitiveness of KRW stablecoins. They added that only when government policy flexibility is matched with private sector innovation can KRW-based stablecoins evolve beyond pilot projects to become a core infrastructure of Korea’s digital financial sovereignty.

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