The Bank of Korea (BOK) has temporarily paused preparations for the second phase of its central bank digital currency (CBDC) pilot program, initially slated for Q4. This move, reported by Bloomberg, suggests a cooling of interest in state-backed digital currencies within the South Korean central bank. The BOK's pilot program aimed to explore the feasibility and practical applications of a CBDC, but the postponement indicates a reassessment of the project's direction and potential benefits. The future of the CBDC initiative in South Korea remains uncertain following this development.