According to Odaily Planet Daily, banks and securities firms in South Korea have begun to build token issuance platforms and cooperate to form tokenization alliances. Despite the delay in the passage of legislation to support the issuance of security tokens, these institutions are still moving forward. This week, Woori Bank signed a distribution agreement with a secondary market operator and applied to participate in the regulatory sandbox. Meanwhile, Nonghyup Bank received 1 billion won ($732,000) in funding from the Korea Internet and Security Agency (KISA) to develop its token issuance platform, which is expected to be ready in November this year.