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General News

Jan-Aug fiscal balance deficit narrows to 43 trillion won, smallest in 8 years

South Korea\'s fiscal deficit through August narrowed to 43 trillion won, the smallest in eight years, as national tax revenue rose on improved corporate results and higher income tax. Total revenue for January to August climbed to 529.7 trillion won, while spending rose to 524.7 trillion won, producing a 5 trillion won consolidated surplus. Central government debt rose to 1,372.1 trillion won as of end-August.

Crypto

Alliances accelerate in tokenised securities from issuance to distribution and payment

With the tokenised securities system about 4 months away, partnerships among South Korean financial firms are speeding up. Firms are dividing roles with blockchain, tokenisation, platform and content companies to build business bases linking issuance, distribution and payment. Regulators have proposed amendments to related rules ahead of a Feb. 4, 2027 start date, while caps and capital requirements are set. Market competition is expected to hinge on commercial products and trading after the launch.