South Korean Conglomerates Adopt Stablecoins for Business Infrastructure
Major South Korean conglomerates are adopting stablecoins as business infrastructure for payments, settlement, and trade finance. Coupang has completed a proof-of-concept (PoC) with Woori Bank on won-backed stablecoin settlement for its Coupang Eats platform, potentially saving fees across its ₩49 trillion revenue base.
POSCO International is pursuing digitalization of trade finance through receivables tokenization and blockchain-based cross-border remittance infrastructure. Hyundai Motor has completed a USDT remittance pilot between its U.S. and Mexico subsidiaries, transferring $20,000 in seven minutes.
Samsung Electronics has joined the OpenUSD consortium and plans to integrate stablecoin functionality into Samsung Wallet. Industry observers note that delays in passing the Digital Asset Framework Act have slowed corporate momentum.