Recently, South Korean President Lee Jae-myung appointed Kim Yong-beom as the new Presidential Policy Chief Secretary. It is worth noting that Kim Yong-beom comes from a traditional financial background and has been the head of Hashed Open Research, a think tank under the Korean blockchain venture capital firm Hashed, since 2022. Hashed CEO Simon Kim even pointed out that he was the person who saved the Korean crypto industry in 2018. At that time, the Minister of Justice was planning to close all cryptocurrency exchanges, but Kim Yong-beom, who was then a government official, proposed a real-name account system as an alternative, allowing the Korean crypto industry to survive.
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ToggleLee Jae-myung Government Ministerial-Level Personnel Appointment, Kim Yong-beom Previously Served as Hashed Think Tank Executive
Kim Yong-beom, the Presidential Policy Chief Secretary of the Lee Jae-myung government, was born in 1962 and is currently 63 years old. He is from South Jeolla Province.
He served as a senior economist at the World Bank from 2000 to 2005 and was the chairman and vice chairman of the Financial Services Commission for Securities and Futures Affairs during the Moon Jae-in government from 2017 to 2019. From 2019 to 2021, he served as the first deputy minister of strategy and finance. The Moon Jae-in government and the current Lee Jae-myung government both belong to the Democratic Party.
New South Korean Presidential Policy Chief Secretary Previously Published Stablecoin Research Paper
Kim Yong-beom, an experienced veteran, has been the executive director of Hashed Open Research, a think tank under the Korean blockchain venture capital firm Hashed, since 2022. Hashed CEO Simon Kim stated that in 2018, the then Minister of Justice announced the closure of all cryptocurrency exchanges in Korea. However, as the vice chairman of the Financial Supervisory Service, Kim Yong-beom refuted the announcement and proposed a real-name account system as an alternative, allowing the Korean cryptocurrency industry to survive and even create the subsequent kimchi premium phenomenon.
During his time at Hashed Open Research, Kim Yong-beom also published a paper on "Demand and Legislative Proposals for Korean Won Stablecoin". The latest proposal by ruling party National Assembly member Min Byeong-deok, called the "Digital Asset Basic Act", mentions that stablecoin issuance requires licensing and proposes establishing a presidential-level regulatory committee.
(South Korea Promotes "Digital Asset Basic Act": Stablecoin Issuance Requires Licensing, Proposes Presidential-Level Regulatory Committee)
Risk Warning
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