#Bank of Korea News

South Korea: Central Bank Conducts Research Into Global Adoption of CBDCs

May 19, 2020 by Anthonia Isichei at Regulation

The South Korea central bank, the Bank of Korea (BoK) recently released a paper detailing its research into the adoption and advancement of central bank digital currency (CBDC) across different central banks globally. Central Banks Adopt DLT for CBDC Projects In a report by the Bank of Korea published on...

South Korea: Central Bank Launches Pilot Program for Digital Won

April 6, 2020 by Anthonia Isichei at Regulation

The Bank of Korea, South Korea’s central bank, has commenced a pilot project to study the modalities for the issuance of a central bank digital currency (CBDC). CBDC Not an Immediate Need for South Korea According to an official press release on Monday (April 6, 2020), the experimental scheme began...

Bank of Korea to Establish Digital Asset Task Force

Bank of Korea (BOK) Developing Blockchain-Based Bond Issuance System

February 20, 2020 by Ogwu Osaemezu Emmanuel at Blockchain

The Bank of Korea (BOK), the central bank of South Korea, is working on a proof-of-concept (POC) for a blockchain-based bonds issuance system for the region’s bond market, according to a report by Yonhap Infomax on February 18, 2020. Bonds on the Blockchain Following in the steps of the World...

South Korea: Central Bank Report States CBDCs Could Reduce the Role of Commercial Banks

March 27, 2019 by Aisshwarya Tiwari at News

On March 26, 2019, South Korea’s central bank published 2018 Annual Payment Settlement Report. In the report, the country’s apex bank has given a summary of research it conducted on central bank digital currencies (CBDCs). Promising Future for Crypto Assets South Korea is one of the global hotbeds when it...