While the Bank of Korea has been conducting simulations of “CBDC” since last year, from the second half of this year,

It is going to test CBDC platform with major domestic commercial banks. The plan is to verify that remittances and payments between users work smoothly even in an actual financial service environment.

The Bank of Korea is planning to publish a final report after completing the CBDC study in the second half of this year.

According to the financial sector on the 10th, the Bank of Korea sent an official letter to the banking sector on the 1st asking if they would participate in the CBDC test.


So far, more than 10 banks, including Shinhan Bank and NH Nonghyup Bank, have reportedly expressed their intention to participate.

Prior to this, the Bank of Korea held a briefing session for the banking sector on the 22nd of last month to share the results of the first and second stages of the CBDC simulation.

In the first phase of the simulation conducted from August to December last year, the Bank of Korea implemented basic functions such as CBDC manufacturing, issuance, distribution, and recovery.

In the second phase of the simulation conducted from January to June this year, functions such as payment, digital asset transactions, and remittance between countries were tested.