Chainlink partners with LG CNS to drive Korean won stablecoin expansion

Chainlink Chainlink (LINK) announced that it has partnered with LG CNS, the AI transformation and IT service arm of South Korean conglomerate LG Group, to advance the infrastructure supporting South Korea's $68 billion crypto market.

With the strategic partnership, the two companies said they will focus on expanding the utility and distribution of Korean stablecoins, which is an emerging market segment with more than 11 million eligible users.

South Korea currently does not have a clear legal basis for the commercial issuance and trading of stablecoins linked to its local currency. However, its government and lawmakers are working on the Digital Asset Basic Act, which would establish rules for won stablecoins, among other standards for the digital asset space.

Outside of stablecoins, LG CNS is set to integrate Chainlink's cross-chain, data, and orchestration infrastructure into its digital asset platform solutions for Korean institutions. The two will also combine their expertise to help advance the country's digital asset framework, the announcement said.

"Korea's financial infrastructure is entering the tokenization era. LG CNS is committed to leading this transition, and together with Chainlink, we aim to accelerate the growth of Korea's tokenized securities market by enabling secure interoperability and real-world data, while creating a foundation for global expansion," Hongkeun Kim, executive vice president and head of digital business division at LG CNS, said in the announcement.

Chainlink is a decentralized oracle network that connects smart contracts on blockchains with real-world data and external systems. Its core focus is providing reliable, secure data feeds, cross-chain interoperability, and orchestration tools mainly for DeFi, RWA tokenization, and institutional platforms.

LG Group is one of South Korea's largest business groups, with around 186 trillion won ($140.5 billion) in assets across 63 affiliates, and over $100 billion in combined market capitalization across all subsidiaries. LG CNS is also the lead contractor for the Bank of Korea's flagship digital currency initiative, Project Hangang.