Lee Ju-yeol "Decision on CBDC Introduction Within 2 Years"

October 15 National Assembly Planning and Finance Committee 'Bank of Korea' Audit

Lee Ju-yeol, Governor of the Bank of Korea, is attending the National Assembly's Public Accounts Committee's audit of the Bank of Korea held on the 15th, taking the oath as a witness. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Jang Sehee] Lee Ju-yeol, Governor of the Bank of Korea, stated on the 15th that "a decision on whether to introduce a central bank digital currency (CBDC) will be made within two years."

Governor Lee made this remark during the National Assembly's Planning and Finance Committee audit when Seo Byung-soo, a member of the People Power Party, asked about the timing of the CBDC introduction.

Governor Lee said, "The current goal is to prepare to implement the CBDC as soon as possible once the decision to introduce it is made, regardless of when that decision occurs," adding, "I believe the decision on whether to introduce it can be made within two years."

He added, "Deciding whether to introduce the CBDC within two years does not mean the CBDC will be introduced immediately. Typically, it takes about five years from review to issuance. Since about two years of review have already been conducted, I expect it will take about three to four more years to execute."

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