The Bank of Korea (BOK) has expanded the Hangang Project by adding Kyongnam Bank and iM Bank, increasing the total number of participating banks to nine as the pilot program for the won digital currency moves into phase two. This phase focuses on large-scale practical deployment, including distributing 110 trillion won in government subsidies through programmable deposit tokens to ensure transparency and proper use.
The project also tests fee reductions for businesses and small merchants, as well as peer-to-peer transfers, bringing it closer to retail application. Additionally, the BOK is exploring integration with autonomous AI agents capable of executing transactions. About 100,000 people are expected to participate by the first half of 2026. This move comes amid delays in digital asset legislation, strengthening the BOK’s role in the digital payment ecosystem.
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