South Korea will launch the Youth Future Savings policy finance product on June 22. The Financial Services Commission said it disclosed interest rates and preferential conditions by institution on the Korea Federation of Banks\' consumer portal. The product carries a fixed base rate of 5 percent for three years, with preferential rates adding 2 to 3 percentage points to as much as 7 to 8 percent. With government contributions and tax exemptions, the commission said the effect can be similar to higher simple-rate savings returns.

iM Bank has completed a proof-of-concept that implements the full process for a won-denominated stablecoin, from issuance to payment, settlement and burning. The bank said it finished the project with digital-asset infrastructure firm OpenAsset on May 20. The test issued an iM Bank stablecoin, iMKRW, on the Kaia blockchain and demonstrated top-ups, QR-based payments and merchant settlement using the DAGAON wallet service. The bank said it ran about 80 scenarios without errors.