The Bank of Korea plans to restart testing its central bank digital currency.

According to Odaily Planet Daily, the Bank of Korea recently sent a formal document to major banks regarding the second round of CBDC testing. This second round of testing is considering distributing some government subsidies in the form of digital currency. The aim is to use CBDC to limit the use of subsidies and reduce the management and administrative costs associated with subsidy distribution. However, a Bank of Korea official stated that details, including specific methods and timelines, are currently under discussion. (decenter)