Woori Bank applied for a stablecoin trademark, and all five major financial holding companies in South Korea have joined the stablecoin competition.

On July 9, according to South Korean media Digital Asset, Woori Bank, one of South Korea's five major commercial banks, has applied for stablecoin trademarks. This is the third trademark application case among South Korean commercial banks following the applications by Kookmin Bank and Hana Bank. All major financial holding companies in South Korea have joined the competition for stablecoins. According to the South Korean Intellectual Property Office's intellectual property information retrieval service on July 9, Woori Bank applied for 12 stablecoin trademarks including "WKRW", "KRWOORI", "WONKR", and "CKRW" on July 7, with intellectual property products for Crypto Assets financial trading services, Crypto Assets electronic transfer services, and more. Thus, the five major financial holding companies including Shinhan Financial Group, KB Financial Group, Hana Financial Group, NongHyup Financial Group, and Woori Financial Group all hold stablecoin trademarks at the affiliated company or holding company level.