Hashed Research CEO Kim Yong-beom Joins Korea’s Presidential Office

In a significant development that signals a potential shift in South Korea’s approach to cryptocurrency and blockchain technology, President Lee Jae-myung has appointed Kim Yong-beom, the CEO of crypto think tank Hashed Research, as the Chief Policy Officer of Korea’s Presidential Office. This strategic appointment, announced on June 6, 2025, could mark a turning point in the nation’s cryptocurrency regulations and blockchain innovation strategy.

Kim, who previously served as the Vice Minister of Economy and Finance during the Moon Jae-in administration, brings a wealth of experience in both traditional finance and the emerging digital asset ecosystem. His dual background positions him uniquely to bridge conventional economic policy with progressive digital asset frameworks at a time when South Korea seeks to establish itself as a global crypto hub.

Who is Kim Yong-beom and What Does His Appointment Mean?

Kim Yong-beom has established himself as a prominent figure in South Korea’s cryptocurrency landscape through his leadership at Hashed Research, the analytical and policy arm of Hashed, one of Asia’s most influential crypto investment funds. Before joining the private sector, Kim’s tenure as Vice Minister of Economy and Finance provided him with extensive experience in public policy formulation and implementation.

This appointment represents more than just a personnel change; it potentially signals the Lee administration’s commitment to embracing digital assets and blockchain technology as integral components of South Korea’s economic future. According to Simon Kim, CEO of Hashed, this administration is expected to adopt a crypto-friendly stance, a significant departure from previous regulatory approaches.

“The Lee administration will be crypto-friendly,” Simon Kim told CoinDesk in a previous interview, adding that “local regulators are closely monitoring crypto policy developments in the U.S. with an aim to emulate them.” This suggests a potential alignment of South Korean crypto regulations with emerging standards in the United States, which could create greater regulatory clarity and stability for the industry.

South Korea’s Evolving Cryptocurrency Landscape

South Korea has long been recognized as a significant player in the global cryptocurrency market, with one of the highest adoption rates worldwide. The country’s tech-savvy population embraced digital assets early, leading to a vibrant trading ecosystem and the emergence of several prominent cryptocurrency exchanges like Upbit and Bithumb.

However, the regulatory environment has experienced considerable fluctuation over the years. From the initial crypto boom to subsequent crackdowns and the introduction of stringent regulatory frameworks, South Korean authorities have navigated a complex relationship with digital assets.

The appointment of Kim Yong-beom comes at a time when many countries are reassessing their approach to cryptocurrency regulation, seeking to balance innovation and economic opportunity with consumer protection and financial stability. His background in both government finance and the crypto industry positions him as an ideal candidate to navigate these competing priorities.

Potential Policy Initiatives Under Kim’s Leadership

One of the first major initiatives that may fall under Kim Yong-beom’s purview is the development of a Won-based stablecoin. President Lee has identified this project as a priority to “prevent national wealth from leaking overseas”—a clear indication of the administration’s desire to maintain sovereignty in the digital currency space while embracing blockchain innovation.

A Korean Won-based stablecoin could serve multiple strategic purposes. First, it would provide a domestic alternative to dollar-pegged stablecoins like USDT and USDC, potentially reducing capital outflows. Second, it could serve as a stepping stone toward a more comprehensive central bank digital currency (CBDC), which the Bank of Korea has been researching. Finally, it would position South Korea as an innovator in regulated digital assets, potentially attracting both domestic and foreign investment.

Implications for South Korea’s Crypto Industry

The appointment of a crypto industry executive to such a high-level government position sends a powerful message to both domestic and international stakeholders. For South Korea’s crypto companies, this move suggests a potential easing of regulatory burdens and the possibility of more industry-friendly policies.

Cryptocurrency exchanges operating in South Korea have faced significant regulatory challenges in recent years, including stringent anti-money laundering requirements and real-name account verifications. While these measures were implemented to protect consumers and maintain financial integrity, they have also created operational obstacles for crypto businesses.

Under Kim’s influence, we might see a more balanced approach that maintains necessary consumer protections while reducing unnecessary regulatory friction. This could potentially revitalize South Korea’s position as a crypto innovation hub in Asia.

Potential Areas of Regulatory Reform

• Exchange licensing: Streamlining the process while maintaining high standards
• Taxation framework: Developing clear, fair tax policies for digital asset transactions
• Blockchain startups: Creating incentives and regulatory sandboxes for innovation
• Institutional participation: Clarifying rules for banks and traditional financial institutions entering the crypto space
• DeFi regulations: Developing appropriate frameworks for decentralized finance

These potential reforms could significantly impact the trajectory of South Korea’s crypto industry, potentially positioning the country as a leader in regulated digital asset innovation.

Global Context: How Korea Compares to Other Crypto Hubs

Kim’s appointment comes at a time when various nations are competing to establish themselves as global crypto and blockchain hubs. Countries like Singapore, the United Arab Emirates, and Switzerland have implemented progressive regulatory frameworks to attract crypto businesses, while others such as China have taken more restrictive approaches.

The United States, which Kim and Korean regulators are reportedly watching closely, has seen a patchwork of approaches at both the federal and state levels. States like Wyoming have established crypto-friendly regulations, while federal agencies like the SEC and CFTC have taken varying approaches to enforcement and regulation.

By potentially aligning with U.S. regulatory developments, South Korea may be seeking to position itself as part of a global regulatory consensus rather than an outlier. This approach could provide greater certainty for international businesses while still allowing for innovations tailored to Korea’s unique economic and social context.

Korea’s Competitive Advantages in the Blockchain Space

South Korea possesses several distinct advantages that could help it emerge as a leading crypto hub under the right policy framework:

1. Technological infrastructure: The country boasts some of the world’s fastest internet speeds and highest smartphone penetration rates
2. Tech-savvy population: Korean consumers have demonstrated high adoption rates for new technologies
3. Strong existing tech sector: Companies like Samsung and LG provide a solid foundation for technological innovation
4. Geographic position: Korea’s location positions it as a potential bridge between different Asian markets
5. Established financial sector: The country has a sophisticated banking and financial services industry that could integrate with blockchain systems

Won-based Stablecoin: A National Priority

President Lee’s emphasis on developing a Won-based stablecoin deserves particular attention as it may become one of Kim Yong-beom’s first major policy initiatives. The concept aligns with global trends, as several countries and regions have explored or implemented local currency-pegged stablecoins to maintain monetary sovereignty in the digital age.

A Won-based stablecoin could serve as an important tool for preventing capital outflows through cryptocurrency transactions. Currently, when Korean users trade or invest in cryptocurrencies, they often use dollar-pegged stablecoins as intermediaries, effectively moving capital outside the Korean financial system. A domestic alternative could keep these transactions within the national economy.

Moreover, such a stablecoin could complement the Bank of Korea’s ongoing CBDC research by providing practical experience with digital currencies while a full CBDC remains in development. It could also serve as a testbed for regulatory approaches and technical solutions that might later be applied to a central bank digital currency.

Implementation Challenges for a Won-based Stablecoin

Despite the strategic advantages, several challenges must be addressed for a successful implementation:

• Regulatory framework: Clear rules regarding issuance, redemption, and reserves would need to be established
• Market adoption: The stablecoin would need to compete with established global alternatives
• Technical infrastructure: Reliable, secure, and scalable technology would be essential
• Integration with existing systems: Compatibility with banking and payment infrastructure would be necessary
• Monetary policy implications: The impact on the broader financial system would need careful consideration

Kim Yong-beom’s experience in both traditional finance and the crypto sector could prove invaluable in navigating these challenges and developing an effective implementation strategy.

The Role of Hashed in Korea’s Crypto Ecosystem

To understand the significance of Kim’s appointment, it’s worth examining the role of Hashed in South Korea’s cryptocurrency landscape. Founded in 2017, Hashed has grown into one of Asia’s most prominent crypto investment firms, backing numerous blockchain projects both domestically and internationally.

Hashed Research, where Kim served as CEO, functions as the intellectual and policy arm of the organization. It conducts analysis on blockchain technology, market trends, and regulatory developments, often publishing insights that influence industry perspectives.

The firm has played a significant role in nurturing Korea’s blockchain ecosystem through investments, incubation programs, and advocacy efforts. Its portfolio includes prominent projects across various blockchain sectors, from infrastructure to decentralized finance and non-fungible tokens.

Kim’s transition from this influential private sector position to a key government role creates a potential bridge between industry innovation and public policy—a connection that could facilitate more informed and balanced regulatory approaches.

Looking Ahead: Potential Outcomes and Timeline

While the full impact of Kim’s appointment will unfold over time, several potential developments merit attention in the coming months:

1. Initial policy announcements: Within the first 100 days, we may see initial statements or policy documents outlining the administration’s crypto strategy
2. Regulatory consultations: Industry stakeholders may be invited to provide input on potential regulatory changes
3. Stablecoin development: Technical and regulatory groundwork for a Won-based stablecoin could begin to take shape
4. International engagement: Korea may increase its participation in global crypto regulatory discussions
5. Legislative proposals: New or amended laws to provide clearer frameworks for digital assets may be introduced

The speed and scope of these developments will depend on various factors, including political priorities, economic conditions, and global regulatory trends. However, Kim’s appointment itself represents a significant milestone in the evolution of South Korea’s approach to digital assets.

Conclusion: A New Chapter for Korean Crypto Policy

The appointment of Kim Yong-beom as Chief Policy Officer in Korea’s Presidential Office marks a potentially transformative moment for the country’s cryptocurrency and blockchain strategy. By bringing an industry executive with government experience into a key policy role, President Lee has signaled a serious interest in embracing the potential of digital assets while addressing their challenges.

As South Korea navigates the complex landscape of cryptocurrency regulation and blockchain innovation, Kim’s unique background positions him to bridge traditional finance and emerging technologies. The development of a Won-based stablecoin, potential regulatory reforms, and increased alignment with global standards could reshape Korea’s position in the global digital asset ecosystem.

For industry participants, investors, and observers, this appointment warrants close attention in the coming months as it may herald a new, more progressive chapter in South Korea’s relationship with cryptocurrency and blockchain technology.

As this story develops, Coin4Hub will continue to provide updates on policy changes and their implications for the cryptocurrency market in South Korea and beyond.

Source: CoinDesk

Frequently Asked Questions

Who is Kim Yong-beom and why is his appointment significant?

Kim Yong-beom is the CEO of Hashed Research, the think tank of crypto investment fund Hashed, and a former Vice Minister of Economy and Finance during the Moon Jae-in administration. His appointment as Chief Policy Officer of Korea’s Presidential Office is significant because it brings someone with extensive cryptocurrency industry experience into a key government position. This signals a potential shift toward more crypto-friendly policies in South Korea and represents an important bridge between the private blockchain sector and public policy.

What is a Won-based stablecoin and why does President Lee want to develop one?

A Won-based stablecoin is a cryptocurrency whose value is pegged to the Korean Won, providing price stability while maintaining the benefits of digital assets like fast transfers and programmability. President Lee has identified this as a priority to “prevent national wealth from leaking overseas.” Currently, Korean crypto users primarily use USD-pegged stablecoins, which effectively moves capital outside the Korean financial system. A domestic alternative would keep these transactions within the national economy, maintain monetary sovereignty, and potentially serve as a stepping stone toward a full central bank digital currency.

How might Kim Yong-beom’s appointment affect cryptocurrency regulations in South Korea?

Kim’s appointment could lead to more balanced and informed cryptocurrency regulations in South Korea. Given his background in both traditional finance and the crypto industry, he may implement policies that protect consumers while reducing unnecessary regulatory friction. According to Hashed CEO Simon Kim, the administration plans to closely monitor U.S. crypto policy developments with an aim to emulate them, suggesting a potential alignment with emerging international standards. This could lead to greater regulatory clarity, streamlined licensing for crypto businesses, clearer taxation frameworks, and potential regulatory sandboxes for blockchain innovation.

What advantages does South Korea have in becoming a global crypto hub?

South Korea possesses several distinct advantages that could help it emerge as a leading crypto hub: world-class technological infrastructure with some of the fastest internet speeds globally, a highly tech-savvy population with demonstrated willingness to adopt new technologies, a strong existing tech sector led by companies like Samsung and LG, a strategic geographic position in Asia, and a sophisticated banking and financial services industry. With appropriate regulatory frameworks under Kim’s guidance, these advantages could be leveraged to position South Korea as a leader in regulated digital asset innovation.

How does this appointment compare to crypto policy developments in other countries?

Kim’s appointment comes as various nations are competing to establish themselves as global crypto and blockchain hubs. It represents a middle path between highly restrictive approaches (like China) and extremely permissive ones. By potentially aligning with U.S. regulatory developments, South Korea may be seeking to position itself as part of an emerging global regulatory consensus. This differs from countries like Singapore, the UAE, and Switzerland that have implemented distinct regulatory frameworks to attract crypto businesses. The appointment of an industry executive to a key government role is relatively rare globally, highlighting South Korea’s potential commitment to informed and balanced crypto policy.