Shin Hyun-song has made it clear that South Korea is doubling down on digital finance, backing both central bank digital currencies and tokenized deposits in his first public address. As the new head of the Bank of Korea, Shin confirmed the continuation of “Project Hangang,” a pilot exploring blockchain-based wholesale CBDCs aimed at modernizing financial infrastructure.

He also emphasized global collaboration, pointing to initiatives like the Bank for International Settlements-led Agora Project. These efforts aim to improve cross-border payments and strengthen the role of the Korean won in the evolving digital economy. Notably, Shin avoided mentioning stablecoins, signaling that regulatory uncertainty around them remains unresolved in South Korea.