The President of South Korea nominated Shin Hyun-sung as a candidate for the new governor of the central bank, and Shin has a negative attitude towards the Korean won stablecoin.

GateNews

2026-03-29 03:30:26

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 has a negative stance on the stablecoin pegged to the Korean won, which is being promoted by the Lee administration. Shin Hyun Song believes that in countries with volatile exchange rates that are easily influenced by capital outflows, stablecoins can easily become tools for capital flight, and stablecoins pegged to the local currency may accelerate this trend.

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