[Market Focus] Anticipation for 'Korean Won Stablecoin'... Kakao Pay Surges Over 17%

Shares of Kakao Pay, considered a beneficiary of the anticipated introduction of a Korean won stablecoin, are showing strong performance.

As of 10:25 a.m. on June 23, Kakao Pay was trading at 93,600 won, up 14,000 won (17.59%) from the previous trading day.

Previously, President Lee Jaemyung mentioned the introduction of a Korean won stablecoin as part of his presidential campaign pledges, and recently, Bank of Korea Governor Rhee Changyong also expressed support for its adoption.

On this day, Ahn Jaemin, a researcher at NH Investment & Securities, stated, "The share prices of companies related to stablecoins, such as simple payment providers, PG companies, and SI firms, are rising rapidly." He added, "As the likelihood of introducing a Korean won stablecoin increases, we expect the share price momentum of domestic companies that will benefit from the advancement of the digital finance market to continue for the time being," and noted, "In this context, we anticipate Kakao Pay and Naver Pay to benefit."

Cho Taena, a researcher at Eugene Investment & Securities, also explained, "In the era of the Korean won stablecoin, payment companies with a large amount of 'prepaid balances' in addition to a large user base will have a competitive edge," and emphasized, "Among simple payment providers, Kakao Pay, which holds the largest amount of prepaid balances, is expected to stand out."