[South Korea's People Power Party Opposes Advancing Central Bank Digital Currency, Calls for Improved Security Measures First] South Korea's People Power Party has expressed strong opposition to the government's introduction of a Central Bank Digital Currency (CBDC) before legal and institutional security measures are fully established. Jang Dong-hyuk stated that while a CBDC could enhance payment convenience and efficiency, it should not be hastily implemented for the sake of convenience. Key issues such as the traceability of transactions, the potential control over the use and duration of funds, and whether the public's right to choose currency can be safeguarded must first be clarified. The United States has prohibited the advancement of retail CBDCs due to privacy concerns, and major economies like Japan have also refrained from rushing into issuance. The Bank of Korea is currently advancing related pilot projects through the 'Han River Project.' (Source: Digitalasset)