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.

South Korea\'s Financial Supervisory Service is moving to address weak internal controls and limits of post-incident oversight cited as root causes of repeated hacking and system outages. It held a meeting with the National Assembly, financial associations, the Financial Security Institute, academia and security firms to discuss preventive digital risk supervision and control measures. Governor Lee Chan-jin said many incidents stem from failure to meet basic duties or weak controls and pledged strict accountability under a zero-tolerance principle.