Extension to Civilian Payments: South Korea Launches Deposit Token Payment Infrastructure Project

Odaily reported that the Korea Internet & Security Agency (KISA), together with the Ministry of Science and ICT, has launched the "Deposit Token Payment Infrastructure Expansion Project" to extend the outcomes of South Korea's CBDC pilot "Project Hangang" to the civilian payment sector. The project is led by the Korea Financial Telecommunications & Clearings Institute, with participation from 9 banks, 8 payment gateways, and 2 large demand-side entities, with a total budget of KRW 9.6 billion. The goal is to lower payment processing fees for micro and small merchants. The

project leverages the existing payment system instead of building new infrastructure. Users can complete payments through their bank's deposit token wallet, while merchants do not need to replace their terminals. The government also plans to apply deposit tokens to a business travel expense pilot and explore a treasury fund management model linked with dBrain.