K-Stablecoin is not just a simple digital currency.
A financial operating system that connects payments, remittances, investments, insurance, and loans!

In short, this book is a strategic declaration that "Korea must leap forward as a financial powerhouse with a won stablecoin."
As dollar stablecoins dominate the global financial infrastructure, if Korea falls behind, the won risks being relegated to a local currency used only within the country.
The author emphasizes that K-stablecoins are no longer a technology but a national strategy, emphasizing that they are "a survival strategy for the Korean won in an era where currency borders are collapsing."

The starting point of this book is clear.
The reality is that the whole world has entered a new monetary order called the 'Money Reset' or the 'New Money Order'.
The US has institutionalized dollar stablecoins through the Genius Act, and Europe and Japan are also accelerating the race for national digital currencies.
The author describes this pace of change as "the digital dollar redesigning the world," and emphasizes that now is the time for Korea to redefine its financial system.

In this book, the author views stablecoins not simply as coins, but as a Korean-style financial operating system.
It is proposed as an infrastructure that combines various financial systems such as cards, insurance, securities, and remittances into one and designs a completely new financial ecosystem based on four axes: data, trust, speed, and cost.
In other words, K-Stablecoin can become a Korean-style integrated financial operating system as the internet of finance and the invisible infrastructure of finance.

The greatest strength of this book is that it is not a technical document, but a roadmap for a major financial transformation that contains a vision and implementation strategy.
This is the first attempt to view stablecoins not as investment vehicles but as a "new financial operating system," offering a national-level solution by multi-dimensionally connecting technology, policy, and economics.
The author argues that South Korea, which has grown into an IT powerhouse, must now expand its technological capabilities into the financial sector and leap forward as a "financial operating system powerhouse."

The significance of this book can be summarized in three points.
First, we examine stablecoins from the perspective of the entire financial system, weaving monetary hegemony and national strategy into a single narrative.
Second, it objectively examines the causes of past digital finance failures and presents feasible alternatives.
Third, we presented an integrated vision encompassing technology, policy, economy, and future industries.
This is a must-read strategy book for Korea to leap from an IT powerhouse to a financial powerhouse.
The author declares that “K-stablecoins are the key to unlocking the future of Korean finance.”
In this era of digital dollar rearmament, the country that takes the lead in this money reset will seize financial hegemony in the next century.

Korea is one of the world's top 10 economies.
Samsung achieved global leadership in semiconductors, Hyundai in automobiles, POSCO in steel, and LG in displays.
But even during the 1997 foreign exchange crisis and the 2008 global financial crisis, we were helpless in the face of finance.
The won was treated as an emerging market currency, and Seoul lacked the status of a financial hub. No Korean financial institution rivaled JP Morgan, Goldman Sachs, or Citigroup.
What if Korea had also been a financial powerhouse? What if the won had been Asia's primary international settlement currency? Korea's international standing would have been completely different.

Paradoxically, I found hope in the ruins of the financial crisis.
It was fintech.
As traditional finance collapsed, technology began to redefine finance.
PayPal was revolutionizing money transfers, and Square was changing payments.
That's when I realized.
That Korea has a chance.
In finance, we may not be able to catch up with the US, but at the intersection of finance and technology, things may be different.
World-class ultra-high-speed internet, smartphone penetration, and digital infrastructure.
I believed that with Korea's technological prowess, it could achieve its dream of becoming a financial powerhouse through fintech.

--- p.6

“A dollar stablecoin could be a tool to strengthen, rather than threaten, dollar hegemony.”
This is the conclusion reached by a research team under the Treasury Department in the spring of 2024 after a year of in-depth analysis.
The requirement for stablecoin issuers to hold reserves of dollars and US Treasuries equivalent to the tokens they issue meant that a corresponding amount of demand for dollars was created.
Moreover, the dollar's influence could explode as 1.7 billion people around the world without bank accounts could now access dollars using just their smartphones.
The analysis suggested that stablecoins could play a similar role, just as the Eurodollar market in the 1960s strengthened the dollar's international standing.
Full-scale legislative work began in the summer of 2024, with Republicans and Democrats demonstrating rare bipartisan cooperation.
The core of the Genius Act, which was finally passed after dozens of amendments, was clear.
Stablecoin issuers would need to obtain government approval, hold reserves equivalent to the tokens issued in US Treasury bonds and US dollars, and undergo regular audits and disclosure obligations.
An insurance system was also introduced to protect consumers.
--- p.23~24

Looking at the global situation, each country has a different approach.
China successfully piloted its digital yuan at the Beijing Winter Olympics, securing its position as a leading country in CBDC (central bank digital currency).
The European Central Bank is set to decide on a digital euro by 2026, with a focus on balancing privacy and innovation.
The US is attempting a roundabout approach with a real-time payment system called FedNow, while simultaneously establishing a regulatory framework for private stablecoins.
Japan is taking a similar approach to Korea.
Singapore is focusing on a wholesale CBDC (Central Bank Digital Currency) while providing an innovation-friendly regulatory environment for private stablecoins.

The Bank of Korea began full-scale research on CBDC (Central Bank Digital Currency) in 2020.

--- p.63

Private stablecoins serve as the "fuel" of the digital economy.
It is a tool for innovation and expansion.
It is used in all digital economic activities, including global remittances, digital asset trading, DeFi (decentralized finance), and NFTs.
Companies are issuing K-stablecoins, building ecosystems, and expanding globally. They maintain their value based on CBDC (Central Bank Digital Currency) and can be exchanged for CBDC at any time.
This fuels the economy and accelerates the rapid growth of the digital economy.

This structure is called a two-tier system.
On the first floor, there is CBDC (Central Bank Digital Currency).
It is issued directly by the Bank of Korea, can be held by any citizen, and is used for small transactions and everyday payments.
Value stability is 100% guaranteed and operates primarily domestically.
On the second floor, there are private stablecoins.
Issued by regulated private companies, these can include banks, credit card companies, securities firms, or companies like Toss, Naver, or Kakao. They are 100% collateralized by CBDC (central bank digital currency) or bank deposits and are used for global transactions, digital asset trading, and large-scale transactions.
We operate globally, pursuing innovation and ecosystem expansion.

--- p.67

K-Stablecoin is a common payment method that connects all tokenized financial products.
But issuance alone is not enough to realize this vision.
For stablecoins to truly flow and create value, collaboration among players across all sectors of finance is essential.

It's virtually impossible for banks to build a stablecoin ecosystem on their own.
This is because although the issuance is done by the bank, distribution and utilization require the infrastructure of other players.
Reaching 20 million people requires more than just a banking app.
For payment, you need a card company, for investment, you need a securities company, and for cryptocurrency trading, you need an exchange.
Banks create money, but the rivers through which it flows are sold by others.

At this point, the Korean financial industry enters a new era of mergers and acquisitions.
The ecosystem competition centered around stablecoins is beginning.
And the outcome of this competition hinges on who can form the most effective alliance.

--- p.129~130

Korea also has the opportunity to participate in this global experiment.
K-stablecoins can offer a new model based on Korea's financial technology and regulatory expertise.
In particular, the advanced nature of K-banking, fast internet access, and high digital literacy provide favorable conditions for building a stablecoin ecosystem.
If we can create a model that simultaneously meets regulatory and innovation needs in remittance, payment, and investment infrastructure, a Korean stablecoin could become a global standard.
The important thing is to make good use of the lessons learned from previous experiments.
Meta's failure teaches us how important communication with regulators is.
The Terra-Luna incident demonstrated the dangers of excessive technological complexity.
The Tether controversy made me realize the need for transparency.
We can use these trials and errors as lessons to create a better model.

--- p.194