Discussions about creating KRW-pegged stablecoins are actively underway in the financial sector, but the insurance industry shows little movement in creating or preparing related products, Maeil Business Newspaper reported. On the 2nd, the office of Min Byung-duk, a Democratic Party of Korea lawmaker belonging to the National Assembly's Political Affairs Committee, requested data from the Financial Services Commission, Financial Supervisory Service, Korea Life Insurance Association, and Korea Insurance Research Institute, and it was confirmed that the insurance industry has no record of reviewing insurance or pension products utilizing stablecoins and Real World Assets (RWA). An insurance industry official said, "Given that many insurance products are based on long-term contracts and the industry's characteristic of having to manage customer assets stably, we inevitably have to review new digital asset technologies more cautiously than other financial sectors."
