South Korean President Lee Jae myung promises to promote the development of cryptocurrency ETFs and Korean won stablecoins

According to a report by Golden Finance, Lee Jae myung, the candidate of the South Korean Left Party, was elected as the new president of South Korea with 49.42% of the vote, defeating his right-wing opponent Kim Won soo with 41.15%. Li Zaiming promised to vigorously develop the cryptocurrency industry in South Korea, with main policies including allowing local adoption of spot cryptocurrency ETFs, establishing a Korean won stablecoin market, improving the regulatory framework for digital assets, and reducing blockchain regulation in specific regions to promote innovation. South Korea is one of the largest cryptocurrency markets in the world, with 9.7 million trading users, accounting for approximately 20% of the total population. Unlike former President Yoon Suk yeol's failed commitment to cryptocurrency friendliness, Lee Jae myung is expected to push for the implementation of his cryptocurrency policies in the context of the Financial Services Commission's changing attitude.