The Bank of Korea is recruiting 10 new employees, with some positions requiring 5 years of cryptocurrency industry experience, to research the impact of digital assets. This recruitment is synchronized with the restart of the CBDC plan, with the goal of distributing 25% of government subsidies in digital won before 2030 and lifting the ban on cryptocurrencies.

South Korea's People Power Party held a closed-door meeting with major cryptocurrency exchange representatives on March 23 to discuss abolishing the virtual asset taxation system scheduled for implementation in 2027, and to hear proposals on stablecoin issuance and legislation. Floor leader Song Eon-suk has already proposed amendments to the Income Tax Act to address the double taxation issue.

On March 23, the Korean won depreciated against the US dollar to 1,511 won, reaching its lowest level since 2009, prompting investors to seek safe haven assets. In South Korea's crypto market, however, USDT experienced a rare discount, trading at approximately 0.5% below the US dollar spot rate. Geopolitical tensions and stock market selloffs have suppressed stablecoin demand, with the USDT discount reflecting heightened market risk-aversion sentiment.

South Korean President Nominates Shin Hung-song, Director of Monetary Economics at the Bank for International Settlements, as Governor of the Bank of Korea. He previously expressed concerns about Korean won stablecoins, believing they could lead to capital outflows and impact financial stability. External observers are paying attention to any shifts in his stance on stablecoins after taking office.

Korea's National Tax Service plans to appoint professional custody companies to manage seized virtual assets before mid-year to enhance security and address the February security breach incident. The NTS has established a task force to oversee the transition, improve management procedures, and plans to establish a digital asset management department.

Gate News 消息，3 月 19 日，韓國央行（Bank of Korea）正在大規模測試數字韓元（Digital Won），並計劃於 2026 年推出 AI 驅動的支付系統。該測試是韓國央行數字貨幣（CBDC）項目的重要進展，旨在探索數字貨幣在實際支付場景中的應用。

Korean real-world asset platform K-Prop signed a memorandum of understanding on March 16 in Seoul, aimed at combining Korean real estate yields with decentralized Web3 finance. K-Prop Korea will be responsible for asset management, while K-Prop Limited will lead global expansion and smart contract development.

Gate News reported that on March 18, the Korean exchange triggered the KOSPI circuit breaker mechanism due to a 5% surge in KOSPI 200 futures (Korea's stock market benchmark index futures), with program trading suspended for 5 minutes.

South Korean Police Agency Completes Virtual Asset Management Directive Draft, First Time Incorporating Privacy Coin Management and Clarifying Software Wallet Solutions. Over the Past 5 Years, Seized Virtual Assets Worth Approximately 54.5 Billion Korean Won; Police Plan to Select Private Custodian Institutions, Experts Recommend Establishing Government-Led Custodial System.

South Korea's financial intelligence agency imposed a 6-month partial suspension and a 368 billion won fine on a CEX for violating anti-money laundering obligations. The inspection found numerous compliance violations and customer identification issues. During this period, existing users' transactions were unaffected, but virtual asset transfers for new users were restricted.