South Korean Presidential Candidate Proposes Won-Back Stablecoin to Combat Outflows

In a bid to strengthen national financial sovereignty and prevent capital outflows, South Korea’s Democratic Party leader Lee Jae-myung has proposed the creation of a stablecoin linked to the Korean won. This proposal aims to reduce reliance on foreign-issued digital assets like USDT and USDC. Speaking during a recent policy discussion, Lee argued that a won-based stablecoin would allow South Korea to retain domestic wealth while reducing dependence on international currencies.