"Hardliner" Shin Hyun-sung will be appointed as the new governor of the Bank of Korea, holding a negative attitude towards the stability of the Korean won

According to the Financial Times, South Korean President Lee Jae-myung has nominated the head of the Monetary and Economic Department of the Bank for International Settlements, the "pragmatic hawk" Shin Hyun Song, as the candidate for the new governor of the Bank of Korea. It is reported that Shin Hyun Song has a negative attitude towards the Lee Jae-myung government's push for a stablecoin pegged to the Korean won, believing that in a country with severe exchange rate fluctuations and vulnerability to capital outflows, stablecoins can easily become a tool for capital flight, and stablecoins pegged to the domestic currency may accelerate this trend.