While discussions about creating KRW-pegged stablecoins are actively taking place in the financial sector, the insurance industry shows little movement in creating or preparing related products, Maeil Business Newspaper reported. On the 2nd, Rep. Min Byung-duk's office (Democratic Party of Korea, National Assembly Political Affairs Committee) requested data from the Financial Services Commission, Financial Supervisory Service, Korea Life Insurance Association, Korea Insurance Research Institute, etc. The results confirmed that the insurance industry has no record of reviewing insurance or pension products utilizing stablecoins and real-world assets (RWA). An official from the insurance industry said, "Given that many insurance products are based on long-term contracts and the industry's characteristic necessity to manage customer assets stably, we inevitably have to review new digital asset technologies more cautiously than other financial sectors."
