TechFlow news, September 8 — According to Yonhap News Agency, South Korea's central bank and government plan to launch a pilot project using digital currency for disbursing treasury subsidies. Six major banks (KB Kookmin, Shinhan, Hana, Woori, NH Nonghyup, and Industrial Bank of Korea) have expressed their intention to actively participate in the initiative. The project will use blockchain technology to pre-program the designated usage locations and timeframes for subsidies, aiming to prevent misappropriation or misuse while enabling precise impact evaluation. The Bank of Korea plans to hold a briefing session by mid-September and, if preparations proceed smoothly, the test could officially begin in the first half of 2025. Meanwhile, the Bank of Korea is also discussing matters related to a Korean won stablecoin with industry and academic experts, though maintaining a cautious stance amid ongoing legal discussions.
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