Ando Geol to Hold Roundtable on "Korean Won Stablecoins" at National Assembly on the 30th

"Growth Engine for the Economy... Changes Needed in the Foreign Exchange System"

Ando Geol, member of the Democratic Party of Korea.

Ando Geol, a member of the Democratic Party of Korea representing Gwangju Dongnam-eul, announced on September 29 that he will host the second roundtable discussion on “Corporate Utilization of Korean Won Stablecoins and Foreign Exchange Policy” at 2:00 p.m. on September 30 in Meeting Room 2 of the National Assembly Members’ Office Building.

This roundtable will focus on two main topics: strategies for corporate utilization and cross-border use of stablecoins, and the impact of stablecoins on the foreign exchange market and related policy issues. Presentations will be given by Jeon Jin, Ph.D. from Samsung Global Research, Kim Minseung, Head of Center at Korbit, and Lee Seungho, Senior Research Fellow at the Korea Capital Market Institute.

In the first session, Jeon Jin will analyze the current status of stablecoins and present on their impact on the financial industry and corporate finance. Kim Minseung will discuss the influence of stablecoins on industries such as e-commerce and artificial intelligence, as well as global regulatory trends related to digital assets including stablecoins. In the second session, Lee Seungho will address the impact of Korean won stablecoins on the foreign exchange sector and propose future policy tasks.

Ando Geol emphasized, “Stablecoins offer overwhelming efficiency in terms of transaction cost, speed, and accessibility. If domestic companies adopt Korean won stablecoins, they can reduce costs and enhance their competitiveness. Stablecoins will become a new growth engine for our economy, beyond just financial innovation.”

He further added, “Stablecoins can be used as an external means of payment, so changes to the current foreign exchange system are necessary. Policy preparations are needed to establish a foreign exchange system suitable for the digital economy era, based on blockchain technology and smart contracts.”