<ul data-eligibleForWebStory="true"><li>The Bank of Korea has delayed the second phase of its CBDC pilot, opting to wait and observe the stablecoin policy landscape instead.</li><li>Several major banks in South Korea, including KB Kookmin, Shinhan, Woori, and NongHyup, plan to launch won-backed stablecoins next year.</li><li>Investors reacted to the CBDC delay, with shares in KakaoPay dropping 7% and Hecto Financial experiencing a 5% dip.</li><li>The focus in South Korea is now shifting towards stablecoin adoption rather than central bank digital currency innovation.</li></ul>

South Korea Delays CBDC Plans as Banks Focus on Stablecoins

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