October 31, 2019 South Korean central banker sees ‘little need’ to issue a digital currency.

At a conference in Seoul, Bank of Korea director of financial settlement Hong Kyung-sik described the country’s financial system as having little use for a central bank digital currency (CBDC), and that digital fiat can already be moved quickly and efficiently. However, he noted that CBDCs could be useful in developing countries to improve financial inclusion or in developed countries to help prevent monopolization of payment systems.