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<h2 id="header-0">South Korea Selected Jeju, Busan, and Incheon for CBDC Pilot</h2><p>South Korea&#39;s Bank of Korea has selected Jeju, Busan, and Incheon as potential regions for its <strong><a href="https://www.coingabbar.com/en/crypto-blogs-details/indias-cbdc-pilot-project-a-threat-or-a-support-system-for-upi" rel="noopener noreferrer nofollow">CBDC pilot</a></strong>, excluding Seoul. The bank plans to experiment with payments and distribution at a public level, aiming to select one region as the &#34;private target CBDC test bed.&#34; The CBDC electronic wallet app will be accessible to local residents and tourists. The pilot will follow the model of the local currency scheme introduced during the pandemic as a basic income solution. Some banks in South Korea are also researching stablecoins as CBDC alternatives for efficiency purposes.</p>

South Korea Chooses Three Test Regions for CBDC Pilot

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