The Token Securities (STO) market is gaining traction in South Korea, as financial industry leaders and experts recognize its potential for the digital transformation of finance. This was emphasized by Seo Yoo-seok, head of the Financial Investment Association, at the STO policy seminar held on the 20th of March, co-hosted by National Assembly Vice Speaker Jung Woo-taek.
Seo Yoo-seok believes that almost all assets, including real and intangible assets, can be expanded into tradable assets through STO. He also stated that as existing standard securities and numerous non-standard investment contract securities become tokenized, token securities are expected to have infinite scalability in the future. However, Seo emphasized the importance of striking a balance between innovation and investor protection for the healthy development of the market.
The policy seminar was supervised by the Korea Virtual Asset Evaluation and Certification Authority and supported by the Korea Financial Investment Association, Songgok University, Korea App, and Healand. The event featured presentations from academic and industry experts, including a plan to reorganize the STO market by Hoseo University Professor Kim Hyeong-joong, an evaluation model presented by Professor Park Soo-yong of Sogang University, and the opinion of Kim Byeong-gyu, CEO of the Korea Virtual Asset Rating Authority, on the STO announcement plan.
The seminar also included presentations from Lee Yong-jae, Mirae Asset Securities team leader, Lee Jun-hee, Yulchon lawyer, and Heo Seong-min, CEO of Hillland, on the preparation status of STO market participants. Additionally, Lee Kang-wook, CEO of KNK Patent & Law Firm, and Yoo Shin-jae, CEO of Textlight Tax Firm, discussed measures to protect investors in terms of related laws and taxation.
The panel discussion on the STO market was attended by Jeong Hak-soo, a professor at Songgok University, Lee Jun-young, a representative lawyer at KNK Patent & Law Firm, and Park In-kyu, vice president of Korea Virtual Asset Evaluation and Certification Authority.
Overall, the STO policy seminar was a significant step towards promoting the growth of the STO market in South Korea. The active involvement of various stakeholders, including industry experts, policymakers, and market participants, highlights the potential of STO in revolutionizing the traditional finance sector while ensuring investor protection.
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This article was republished from azcoinnews.com