South Korea to integrate digital assets into new state management system
Digital assets and blockchain technology usher in a new era in state asset management.
1Modernization of state assets
South Korea is preparing to update the State Property Act of 1950 by implementing the National Asset Basic Act. This law expands the definition of state assets to include new types of assets such as digital assets and intellectual property.
2Tokenization with blockchain technology
The government plans to tokenize government bonds on the blockchain as part of a pilot project to be launched in 2027. This aims to reduce transaction costs and modernize the management of state assets.
3Tokenization of state-owned real estate
South Korea aims to encourage individual investor participation by exploring the tokenization of state-owned real estate. A portion of the returns generated will be shared with the public.
4Central Bank Digital Currency (CBDC)
South Korea plans to link tokenized government bonds to the central bank digital currency (CBDC) infrastructure in 2027. This will be part of efforts to create a blockchain economy.
5Legal regulations and financial services
Amendments to South Korea's Capital Markets Act and Electronic Securities Act will bring tokenized assets under the jurisdiction of the Financial Services Commission.
6The future of digital assets
South Korea's steps mark a significant regulatory development in one of the world's most active crypto markets. This signals the beginning of a new era in the management of state assets.