Gate News reports that on March 29, South Korean President Lee Jae-myung nominated Shin Hyun Song, the head of the Monetary and Economic Department of the Bank for International Settlements, as a candidate for the new governor of the Bank of Korea. It is reported that Shin Hyun Song is known as a "pragmatic hawk" and holds a negative attitude towards the Korean won-pegged stablecoin promoted by the Lee administration. Shin Hyun Song believes that in countries with highly volatile exchange rates that are susceptible to capital outflows, stablecoins can easily become a tool for capital flight, and stablecoins pegged to the local currency may accelerate this trend.

Gate News reports that on March 28, South Korean President Lee Jae-myung nominated Shin Hyun Song, head of the Monetary and Economic Department of the Bank for International Settlements, as a candidate for the new governor of the Bank of Korea. Shin Hyun Song is known as a "pragmatic hawk" and has a negative stance towards the Lee government’s push for a won-pegged stablecoin. Shin believes that in countries with severe exchange rate fluctuations and vulnerability to capital outflows, stablecoins can easily become tools for capital flight, and stablecoins pegged to the local currency may accelerate this trend.

Seventy-four-year-old investor Kim Jae-wook from South Korea donated 100,000 XRP to Seoul National University Hospital, equivalent to approximately $145,000, reflecting the expanding application of crypto assets in the public welfare sector. Since 2018, he has been actively involved in charity, with total donations reaching 1.27 billion won, supporting projects such as medical care for uninsured groups.

South Korean President Lee Jae-myung nominated Shin Heung-soon as central bank governor, sparking new developments in stablecoin regulation. Shin Heung-soon takes a cautious approach, which may impact the legislative process for won-pegged stablecoins. The market is closely watching potential shifts in his stance on stablecoins. This personnel change comes at a critical policy juncture, with technology companies anticipating new regulations to advance digital finance.

South Korea's second-largest cryptocurrency exchange platform remains committed to supporting CEO Lee Jae-won's reelection, despite the platform facing controversy over a Bitcoin misdisbursement incident and regulatory penalties. Despite major flaws being exposed, the exchange has chosen to maintain operational stability rather than pursue management restructuring.

The Financial Services Commission of South Korea is considering allowing tech giants to issue their own stablecoins, raising concerns in the industry that it may weaken the competitiveness of banks. President Lee Jae-myung has promised to open the market, but efforts are being obstructed by South Korean banks.