According to South Korean media outlet News1, as South Korea makes slow progress in establishing regulations related to the issuer of the Korean won stablecoin, the world's top two stablecoin issuers, Tether and Circle, are accelerating their efforts to capture the Korean market. Currently, Tether is recruiting for multiple positions in Korea, including public relations manager, blockchain investigator, and government relations representative, to prepare for the upcoming Digital Asset Basic Act (Phase 2 legislation, which is expected to require overseas stablecoin issuers to establish branches in Korea before circulation). Meanwhile, Circle's USDC has recently gained approximately 10% market share in trading activity on Korean cryptocurrency exchanges.