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Bank of Korea Governor Shin Hyun-song said the central bank is not pursuing a retail central bank digital currency for the general public, but an internal Bank of Korea report described its Project Hangang as the world’s first case in which deposit tokens were issued on a distributed ledger-based digital currency system and used by the general public in real transactions, The Fact reported.
According to materials the office of People Power Party lawmaker Kim Sang-hoon, a member of the National Assembly’s Finance and Economy Planning Committee, received from the Bank of Korea on Oct. 15, as well as the central bank’s “first real transaction pilot results report,” the Bank of Korea assessed the project in those terms. The assessment contrasts with Shin’s remarks at a parliamentary audit on Oct. 12, when Shin dismissed the possibility of pursuing a retail CBDC.