TechFlow, November 10 — According to The Korea Times, South Korea's four major financial holding companies—KB, Shinhan, Hana, and Woori—are racing to form partnerships with big tech firms such as Naver, Kakao, and Samsung Electronics to gain an edge in the rapidly emerging stablecoin market.
Domestic stablecoin transaction volume in South Korea has exceeded 60 trillion won (approximately $411.5 billion). Financial regulators are preparing to submit a stablecoin regulatory bill to the National Assembly by the end of 2025. Banks are seen as the primary candidates for issuing won-pegged stablecoins.
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