South Korean financial experts and opposition lawmakers are calling for consideration of establishing bitcoin reserves

South Korean financial experts and opposition politicians urged South Korea to include bitcoin in its national reserve and develop a won-backed stablecoin at a symposium in parliament hosted by the main opposition Democratic Party last Wednesday. The symposium analyzed potential responses to the U.S. move to establish a bitcoin-centric national reserve, the Korea Herald originally reported. The discussion took place just before President Trump signed an executive order on Thursday establishing bitcoin reserves and cryptocurrency reserves.
Kim Jong-seung, CEO of blockchain firm xCrypton, said at Wednesday's event: "South Korea needs to respond with a clear policy." In addition to bitcoin reserves, workshop experts also stressed the importance of creating Korean won-backed stablecoins. Kim warned that South Korea could lose its "monetary sovereignty" if dollar stablecoins dominate the digital economy. "We need to develop a model that connects dollar stablecoins and Korean won stablecoins for trade transactions," he said.
MP Kim Min-seok, head of the Democratic Party's policy preparatory committee, said that if the party returns to power, it will reshape South Korea's cryptocurrency regulatory framework. Min Jung, an analyst at New Presto Research, said: "South Korea is generally slower than most countries, we just approved corporate accounts for cryptocurrencies, while Bitcoin and Ethereum ETFs are still not allowed to trade. It looks like South Korea is just trying to catch up."