The Bank of Korea's CBDC pilot, the second phase of the Han River Plan is expected to start as early as September

Comparatively, according to Yonhap News Agency, the second phase of the Bank of Korea's digital currency (CBDC) pilot project “Han Jiang Plan” is about to be officially launched. The Bank of Korea and commercial banks are making final preparations for the second phase of the real transaction test of deposit tokens. If preparations for system development and recruitment of participants are completed as planned, actual trading is expected to begin as early as September.

In the first phase of transaction testing from April to June last year, 81,000 people participated through e-wallets and carried out 114,880 transactions using deposit tokens. The first phase examined deposit token payment systems, while the second phase focused on exploring commercialization. Additionally, South Korea's Ministry of Finance and Economy announced in its economic growth strategy for the second half of the year released on the 15th that it will implement a government bond tokenization pilot project linked to the Bank of Korea's institutional central bank digital currency (CBDC) next year.