South Korean trading giant POSCO International is partnering with LG CNS to pilot the tokenization of trade receivables on the Injective blockchain. The test, which uses real commercial data, aims to speed up payments between its global subsidiaries by creating a single, transferable record. The initiative is part of a growing trend of corporate blockchain adoption in South Korea.
POSCO blockchain receivables pilot
- ▪The pilot uses receivables from real trade between POSCO's overseas operations rather than simulated transactions
- ▪The project aims to accelerate commercial payments between POSCO International's global subsidiaries
- ▪The pilot is a collaboration between POSCO International and LG CNS, the technology arm of LG Group
- ▪POSCO International is piloting the tokenization of trade receivables on the Injective blockchain
- ▪POSCO International plans to expand the initiative into live production after the pilot concludes later in 2026
Trade finance tokenization mechanics
- ▪Tokenizing receivables on a shared blockchain ledger creates a single record for buyers, sellers, and banks, reducing reconciliation times
- ▪Trade receivables represent money owed to a company for goods that have been shipped but for which payment has not yet been received
Tokenized asset market growth
- ▪The market for tokenized assets has grown to a current size of $35 billion
- ▪A Citi report estimates the tokenized asset market could grow to $5.5 trillion by 2030
- ▪Asset managers including BlackRock, Franklin Templeton, and Fidelity have tokenized funds on blockchains
South Korean corporate blockchain adoption
- ▪Stablecoin issuer Circle has partnered with Kakao Group and Toss Bank to explore stablecoin payment infrastructure in South Korea
- ▪South Korea is an active market for corporate blockchain adoption in areas like trade finance and asset tokenization
- ▪Automaker Hyundai uses stablecoins for internal treasury transfers between its operations in the U.S. and Mexico
LG CNS blockchain experience
- ▪LG CNS operates tokenization platforms for South Korean financial firms KOSCOM and Mirae Asset Securities
- ▪LG CNS previously participated in the Bank of Korea's central bank digital currency (CBDC) pilot
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