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Crypto

Bank of Korea steps up \'Project Hangang\' as it presses CBDC pilot

The Bank of Korea is accelerating its central bank digital currency (CBDC) pilot, Project Hangang, as legislation on a digital assets framework law stalls in parliament. The project has moved into a second phase focused on building a basis for commercialising deposit tokens, expanding participating banks and planned QR-code payments at more stores. The bank will also test paying an electric-vehicle charging subsidy in deposit tokens, a first for public finance, while debate continues over stablecoin oversight.

Crypto

LG CNS joins phase 2 of Bank of Korea\'s Project Hangang to test deposit tokens

LG CNS will take part in the second phase of the Bank of Korea’s institutional digital currency and deposit-token pilot, Project Hangang. The phase will test the use of tokenised bank deposits in transactions by the general public and explore applying them to the disbursement of government subsidies. LG CNS will again serve as the main operator, overseeing operation and upgrades of the digital currency system. New functions including biometric authentication and peer-to-peer transfers have been developed.

Finance

BNK Financial introduces banks\' first mobile bond trading service for retirement pensions

BNK Financial Group said its affiliates Busan Bank and Kyongnam Bank will launch a retirement pension bond trading service from April 1 through both in-person and non-face-to-face channels. It said the mobile banking bond trading service is the first of its kind in the banking sector. The service allows DC and IRP customers to buy government and local bonds directly in the mobile app, focusing on 5-year and 7-year maturities and applying a customer-protection process.