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South Korea's President Lee Pushes Faster CBDC Rollout for Subsidy Payments on July 15

2026-07-15 03:11:51

On July 15, President Lee Jae-myung urged accelerating a pilot program applying central bank digital currency (CBDC) to national treasury subsidy payments to prevent fraudulent claims. Deputy Prime Minister Koo Yun-cheol said the Ministry of Economy and Finance is using CBDC infrastructure issued by the Bank of Korea, with commercial banks issuing deposit tokens for subsidy distribution and settlement. The initiative leverages blockchain technology to track fund flows and block misuse. President Lee stated, "With digital currency for subsidies, you can trace the entire flow of that amount," and instructed officials to "move forward quickly to see how it actually works."

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