Core Insights - KakaoBank is developing a KRW-pegged stablecoin named "Kakao Coin" and has entered the development phase [1] - The company is recruiting blockchain service backend developers to enhance its blockchain infrastructure and stablecoin technology [2][3] - KakaoBank is also planning a security token offering (STO) and has partnered with Korea Investment & Securities and Lucent Block for this initiative [4] Group 1: Stablecoin Development - KakaoBank is establishing blockchain infrastructure for its stablecoin and has opened recruitment for developers with expertise in smart contracts and token standards [1][2] - The stablecoin initiative aligns with South Korea's broader push for a KRW-pegged coin to facilitate business and international trade [6] Group 2: Market Context and Competition - The stablecoin market in South Korea is gaining momentum, with KakaoBank entering the space shortly after Naver announced its own local stablecoin wallet service [7] - The financial industry in South Korea anticipates that the security token offerings (STO) market could reach a valuation of $287 billion by 2030 [5]