[Asia Economy Reporter Eunbyeol Kim] The Bank of Korea announced on the 15th that it has launched a legal advisory group and held an inauguration ceremony to review legal issues related to central bank digital currency (CBDC) and the need for legal enactment and revision.


The legal advisory group will review legal issues related to CBDC and will be responsible for selecting topics for external research projects to be conducted in the second half of this year, as well as evaluating the outcomes.


The group consists of six members, including legal experts in IT and finance and the head of the Bank of Korea's Legal and Regulatory Affairs Office. Members include Professor Kyungyoung Jung of Sungkyunkwan University School of Law, Professor Hongki Kim of Yonsei University School of Law, Professor Yongjae Kim of Korea University School of Law, Advisor Heewon Lee of the law firm Yulchon, Attorney Jungmin Lee of the law firm Kim & Chang, and Kiwhan Kim, head of the Bank of Korea's Legal and Regulatory Affairs Office.


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The advisory group will operate for at least one year.


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