South Korea has released a new economic policy roadmap, planning to adjust its long-standing state-owned asset management system and formally include virtual assets and intellectual property rights within the scope of state assets. The document also reiterates that South Korea will launch a pilot program for tokenized government bonds in 2027 and study a tokenization scheme for state-owned real estate for retail investors.
The scope of the amendment has been expanded to include virtual assets.
According to a roadmap released by South Korea's Ministry of Strategy and Finance, the government plans to amend the State Property Act of 1950, updating the definition and management methods of state assets. One of the key aspects of this adjustment is incorporating virtual assets into the state asset system to adapt to the needs of digital asset management.
The document also proposes that the government establish a more comprehensive legal framework for the management of state-owned assets, no longer limited to traditional real estate and tangible assets. Intellectual property rights are also included in the proposed scope.
Pilot tokenized treasury bonds in 2027
The South Korean government has reaffirmed that a pilot program for tokenized government bonds will launch in 2027. Officials believe that blockchain technology will help reduce transaction costs and improve the efficiency of asset transfers.
- The tokenized government bond system is planned to be integrated into the Bank of Korea's CBDC infrastructure.
- The government will study the interoperability of different distributed ledger platforms.
- The tokenization scheme for state-owned real estate will be evaluated by retail investors.
South Korea announced earlier this year that it plans to begin testing tokenized deposits for government spending starting in the fourth quarter. The Bank of Korea has also begun CBDC trials with commercial banks, indicating that the connection between public finances and digital currency infrastructure is progressing in tandem.
Blockchain ledgers will gain legal recognition
In addition to adjustments to the state-owned asset management system, South Korea will also simultaneously advance revisions to laws related to the capital market. According to the plan, amendments to the Capital Markets Act and the Electronics Act will take effect on February 4, 2027.
After the amendments take effect, blockchain-based ledger systems will be officially recognized as securities registration systems. This means that the legal basis for the issuance, registration, and circulation of related digital assets will be further clarified, and it will also provide institutional support for the subsequent implementation of tokenized financial products.
Overall, South Korea's roadmap not only addresses the classification of crypto assets, but also incorporates tokenized government bonds, the on-chaining of state-owned assets, and the connection of central bank digital currency infrastructure into the same policy framework.
