Chainlink and LG CNS Partner to Build Infrastructure for Korean Won Stablecoins

Chainlink and LG CNS team up for Korea's digital asset push

Chainlink has announced a strategic partnership with LG CNS, a major South Korean IT services company, to support the development of stablecoins pegged to the Korean won. The two firms plan to focus on expanding the use and distribution of these digital currencies within South Korea's financial sector.

This collaboration comes as the South Korean government works to establish legal rules for digital assets. The partnership aims to help Korean institutions adopt blockchain technology for secure data exchange and asset management.

Key details of the deal

• LG CNS will integrate Chainlink's tools for connecting different blockchains and feeding real-world data into its digital asset platforms.
• The companies will work together to advance South Korea's digital asset framework.
• The move targets a market with more than 11 million eligible users for Korean stablecoins.

Official statement on tokenization

Hongkeun Kim, executive vice president and head of the digital business division at LG CNS, stated that Korea's financial infrastructure is entering a new era of tokenization. He said the company aims to accelerate the growth of the tokenized securities market by enabling secure interoperability and using real-world data, which he described as a foundation for global expansion.

Context: South Korea's regulatory landscape

South Korea currently lacks a clear legal basis for the commercial issuance and trading of stablecoins linked to its local currency. However, lawmakers are actively working on the Digital Asset Basic Act. This proposed legislation would establish rules for won stablecoins and other standards for the digital asset space. The market is valued at approximately $68 billion.

Why this matters

Chainlink is a decentralized oracle network that connects blockchain smart contracts with outside data sources. This technology is essential for institutional platforms and real-world asset tokenization. LG CNS is part of the LG Group, one of South Korea's largest business groups, and is already the lead contractor for the Bank of Korea's digital currency project, known as Project Hangang. This partnership signals major tech players preparing infrastructure before new laws are fully in place.

Sources

• The Block