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Crypto

Won stablecoin pilots enter proof stage as industry tie-ups accelerate

Partnerships among banks, fintechs, platforms and blockchain firms around won-denominated stablecoins are accelerating in the second half, with payment and settlement use cases moving into more concrete pilot tests. Companies are running proofs of concept on real-time settlement, on-chain payment flows and links between digital wallets and existing card networks. Cross-border remittances are also emerging as a key testing area. Debate continues over regulation, including issuers, reserve assets and approval requirements.

Finance

Finance sector on edge as talk grows of relocating key financial institutions from Seoul

South Korea\'s finance sector is on edge amid speculation the government is close to announcing a second plan to relocate public institutions outside Seoul. Korea Development Bank, IBK Industrial Bank of Korea and Export-Import Bank of Korea are being mentioned, along with the Financial Services Commission and Financial Supervisory Service. The government has not officially confirmed targets or regions. Labour groups are escalating opposition, with unions planning a general strike and rallies to block any relocation.

Finance

Korean banks report 49 billion won in loan-fraud financial incidents; Shinhan, Woori, IBK revise amounts up

KB Kookmin, Shinhan, Woori and IBK Industrial Bank of Korea reported financial incidents totaling 49 billion won stemming from fraud by external parties. KB Kookmin made a new disclosure, while Shinhan, Woori and IBK revised earlier disclosures upward. KB Kookmin reported a 3.58 billion won loan-fraud incident tied to cases from September 2023 to December 2024. The banks said investigations are under way.