South Korea’s opposition People Power Party opposes any central bank digital currency (CBDC) rollout until legal and institutional safeguards address privacy, transaction monitoring, spending restrictions and consumers’ ability to choose their form of money. Party leader Jang Dong-hyeok published the position on Facebook on Sept. 13, as the Bank of Korea advanced the second phase of Project Hangang, its digital-currency and tokenized-deposit testing program. Jang took control of the party in August 2025 after its defeat in that year’s presidential election. Project Hangang tests wholesale central-bank infrastructure alongside tokenized deposits issued by commercial banks, rather than giving consumers direct accounts at the Bank of Korea. Its first public phase ran from April through June 2025 with seven banks and up to 100,000 adults. The second phase, formally announced on March 18, 2026, expands participation to nine banks, adds peer-to-peer transfers, biometric authentication and automated movement between deposits and token wallets, and raises potential wallets to as many as 500,000. The Bank of Korea is also examining government subsidies, electric-vehicle charging support and other public-sector uses, including programmable vouchers restricted to designated purposes. The central bank has not set a deadline for a general-purpose CBDC or announced plans to provide residents with direct Bank of Korea accounts. The People Power Party separately opposes proposed major-shareholder ownership limits under the planned Digital Asset Basic Act and supports suspending or removing cryptocurrency taxation, while lawmakers and regulators continue negotiating stablecoin rules, reserve requirements and supervisory authority.