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South Korea supports the Korean won stablecoin policy, related stocks have surged, driving a big pump in the market.
[Coin World] South Korean President Lee Jae-myung's support for the Korean won stablecoin policy has sparked market frenzy, and stocks related to the Korean won stablecoin remain very popular, with Kakao Pay's share price doubling, LG CNS rising nearly 70%, Aton on the Kosdaq rising 80%, and ME2ON's share price tripling. The Kospi index has risen nearly 30% this year, approaching a four-year high, making South Korea the strongest performing market in Asia in the first half of 2025. The surge in market sentiment stems from the government's plan to allow companies with only 50 billion won in capital to issue Korean won stablecoins, and the nomination of crypto-friendly faction member Kim Yong-bum as chief policy advisor.