South Korean tech giants Naver and Kakao are poised to enter the stablecoin market, leveraging their extensive digital platforms to drive adoption. Naver, following its acquisition of Upbit, plans to integrate its stablecoin with its e-pay platform, blockchain network, and metaverse services. Meanwhile, Kakao is focusing on K-pop fans and exploring partnerships to launch its own stablecoin. Despite these ambitions, both companies face significant regulatory challenges. The central bank has expressed opposition to the stablecoin initiatives, and existing laws prevent exchanges from trading coins issued by affiliated entities. However, the government is working on a stablecoins bill to address these regulatory hurdles.