#ALEO Sources: The Bank of Korea plans to restart CBDC testing. This summary was generated by AI. The Bank of Korea has sent documents for the second round of CBDC testing to major banks, planning to distribute some government subsidies in the form of digital money to drop management costs. Details are currently under discussion. The previous pilot was suspended due to cost and practical application value issues. According to Foresight News, citing sources from Decenter, the Bank of Korea recently sent a formal document regarding the second round of CBDC testing to major banks. An official from the Bank of Korea stated, "Details including specific methods and timelines are currently under discussion." The second round of testing is considering distributing some government subsidies in the form of digital money. The aim is to use CBDC to limit the use of subsidies and reduce management and administrative costs associated with subsidy distribution. Previously, the Bank of Korea launched a three-month CBDC pilot project in April, with a total of seven participating banks, but later suspended the project. At that time, the pilot project was criticized for its limited practical application value and for imposing a cost burden of billions of won on participating banks.
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#ALEO Sources: The Bank of Korea plans to restart CBDC testing. This summary was generated by AI. The Bank of Korea has sent documents for the second round of CBDC testing to major banks, planning to distribute some government subsidies in the form of digital money to drop management costs. Details are currently under discussion. The previous pilot was suspended due to cost and practical application value issues. According to Foresight News, citing sources from Decenter, the Bank of Korea recently sent a formal document regarding the second round of CBDC testing to major banks. An official from the Bank of Korea stated, "Details including specific methods and timelines are currently under discussion." The second round of testing is considering distributing some government subsidies in the form of digital money. The aim is to use CBDC to limit the use of subsidies and reduce management and administrative costs associated with subsidy distribution. Previously, the Bank of Korea launched a three-month CBDC pilot project in April, with a total of seven participating banks, but later suspended the project. At that time, the pilot project was criticized for its limited practical application value and for imposing a cost burden of billions of won on participating banks.