Deposit-token trials are spreading from payment gateways and merchant networks to cross-border payments, shifting the commercialisation race from issuance to where tokens can be used. Payment and settlement at the same time could cut small merchants’ fees and settlement periods. Inclusive finance is expanding by borrower type as banks tailor products and fintechs support fees. Regulators are weighing tighter limits on single-stock leveraged products. Market reforms also tighten scrutiny of duplicate listings and low-PBR firms.

The tax deduction rate on capital gains from overseas stocks sold through Korea’s return-to-domestic-market account (RIA) will fall to 50 percent from 80 percent from the end of this month, prompting doubts about its policy impact. The Financial Supervisory Service said the deduction rate is determined by the settlement completion date, not the trade date. While RIA accounts increased, growth has slowed and total balances have declined, as buying of U.S. stocks has picked up again.