Shen Xuansong: We will accelerate the promotion of CBDC and focus on deposit tokens

According to Naver, the Governor of the Bank of Korea, Shin Hyun song, stated in his inauguration speech that he will accelerate the promotion of the central bank digital currency (CBDC), with a focus on advancing the second phase of "Project Han River" to enhance the utilization of CBDC and deposit tokens, and strengthen the position of the Korean won in digital payments through international cooperation such as the Agora project. He did not mention the Korean won stablecoin, but stated at the hearing that CBDC and stablecoins can coexist, emphasizing that deposit tokens based on CBDC should be the focus, and pointing out the limitations of stablecoins in terms of exchange protection, central bank control, and security.