South Korea Proposes Won-Back Stablecoin to Combat Crypto Capital Flight

South Korea is considering a significant shift in its approach to digital currency policy. Leading presidential candidate Lee Jae-myung has proposed the launch of a government-backed stablecoin backed by the South Korean won. This move aims to prevent capital outflows and reduce reliance on foreign-issued stablecoins, marking an attempt to strengthen the country’s monetary independence within the evolving global crypto market.