Global digital asset companies are increasingly visiting South Korea and signaling interest in entering the market, but delays in the Digital Asset Framework Act are raising concerns. Executives from Circle, Tether and Sui have discussed cooperation and partnerships, while stressing the need for clear legal pathways for foreign stablecoin issuers and broader corporate participation. In parliament, five bills remain pending, and political and policy scheduling issues have repeatedly stalled committee talks.

As legislation on South Korea’s Digital Asset Framework Act stalls in parliament, the Bank of Korea is stepping up its central bank digital currency pilot, Project Hangang, entering a second phase focused on preparing deposit tokens for commercialisation. A turf dispute is also emerging between the central bank and the Financial Services Commission over regulatory authority, including licensing for stablecoin issuance. U.S. stablecoin firm Circle has highlighted Korea as a key hub and flagged possible expansion.