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Crypto

Democratic Party says it will prepare digital asset framework act within year, hold hearing soon

South Korea\'s Democratic Party reiterated its intent to enact a digital asset framework act within the year, saying a legal basis should come first and be supplemented later. Lawmaker Min Byung-deok said delays are leaving the country without adequate rules as global markets move quickly. Another lawmaker, Ahn Do-geol, called for formalising digital asset-linked products with investor protections and cited issues such as volatility, trading-hour gaps and on-chain risks. He also highlighted stablecoin legislation and plans for hearings.

Finance

Talks gather pace on law to institutionalise basic financial rights

Discussions are gaining pace in South Korea on enacting a Basic Financial Security Act to guarantee financial access for low-income and low-credit groups. A policy forum in parliament reviewed legal and policy tasks, outcomes of existing programmes, overseas systems and potential economic and social effects. Proposals call for expanding policy-based finance beyond funding to link counselling, debt adjustment, recovery, self-reliance and asset building through a one-stop support system.

Industry

Semiconductor export boom swells Korea budget, setting up September parliamentary clash

South Korea’s government budget for 2027 is set to rise sharply as a semiconductor export boom lifts tax revenue, raising the stakes for a September parliamentary session over how to allocate funds. The plan boosts spending to 820.9 trillion won and lifts revenue to 880.8 trillion won, led by a jump in national tax receipts. Funding for semiconductor and AI initiatives rises, including a new semiconductor special account, while debates centre on tax credits, infrastructure support and an exception to the 52-hour workweek cap.