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Crypto

Ruling party to resume talks on Digital Asset Framework Act in September

South Korea\'s ruling party is expected to reorganise its digital asset task force after an August party convention and resume talks in September on a Digital Asset Framework Act. Lawmaker Park Min-gyu said the party would pursue introducing the bill after consultations between the party and the government. Key issues include who can issue stablecoins and limits on exchange ownership stakes. Industry participants called for broader safeguards and crisis mechanisms, not only issuer eligibility.

Finance

Financial watchdog to revamp bank CEO renewal process, expand National Growth Fund to 200 trillion won

South Korea\'s Financial Services Commission plans to overhaul financial sector governance, including changes to the process for renewing chief executives to block long-term control built on friendly boards. It also plans to expand the National Growth Fund to 200 trillion won and pursue a full lifting of network separation rules to support productive finance and artificial intelligence transformation. The FSC also outlined steps on inclusive finance, regional policy finance and capital market reforms.

Finance

Financial Services Commission to expand national growth fund to 200 trillion won, push KOSDAQ reform

South Korea’s Financial Services Commission will expand the National Growth Fund to 200 trillion won from 150 trillion won and supply up to 10 trillion won to national strategic technologies. It will broaden support to future strategic industries including aerospace and raise annual direct equity investment support to at least 5 trillion won. The commission also plans KOSDAQ market restructuring, tighter limits on duplicate listings, a shift to T+1 stock settlement and other measures to enhance shareholder value and governance.