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

Odaily News The Korea Internet & Security Agency (KISA), in collaboration with the Ministry of Science and ICT, has launched the "Deposit Token Payment Infrastructure Expansion Project," extending the results of 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 nine banks, eight payment gateways, and two major demand-side entities, for a total budget of 9.6 billion KRW. Its aim is to lower payment processing fees for small and micro merchants.

The project leverages existing payment systems rather than building new infrastructure. Users can complete payments through their bank deposit token wallets, and merchants are not required to replace their existing terminals. The government also plans to apply deposit tokens to a pilot program for official business travel expenses and is exploring a treasury fund management model integrated with dBrain.