According to online reports, according to Google Finance, the share prices of at least three South Korean banks that have recently applied for the Korean won stablecoin trademark have increased by 10% to nearly 20%. Market reaction suggests investors are optimistic about the potential opportunities for these banks to enter the cryptocurrency space. The application was made shortly after South Korea's 21st President Lee Jae-myung took office on June 4. His campaign includes promises to be friendly to cryptocurrencies, including the development of stablecoins pegged to the South Korean won. Kakao Bank applied for stablecoin-related trademarks on June 23, and the company applied for at least 12 cryptocurrency-related trademarks. A day later, its share price jumped from 31,000 won (US$22.6) to 37,000 won (US$27), an increase of 19.3%. Mok Bank's shares were trading at 122,000 won (US$89), up 13.38% since it applied for the stablecoin trademark.