Crypto

Bank of Korea begins phase two of Project Hangang to lay groundwork for commercialising digital currency and deposit tokens

The Bank of Korea is launching phase two of Project Hangang to build next-generation payment and settlement infrastructure based on a wholesale central bank digital currency and deposit tokens. The central bank aims to broaden use cases, expand participating banks and merchant sites, and improve convenience with person-to-person transfers and biometric access. It also plans to widen digital voucher applications and review potential use in public finance, AI-based services and digital asset transactions.

Industry

Samsung Electronics considers expanding memory chip contracts to 3 to 5 years

Samsung Electronics is reviewing a plan to sharply extend the duration of its memory semiconductor supply contracts. It is considering shifting contracts currently signed on a quarterly or annual basis to long-term agreements lasting 3 to 5 years, Bloomberg News reported on March 18. The move aims to stabilise supply and reduce concerns over shortages of key components. Shares of Samsung Electronics rose as much as 6.5 percent.