South Korea is advancing its digital economy strategy for the second half of 2026 by introducing stablecoin legislation, preparing the Digital Asset Basic Act, and scheduling a 2027 pilot for tokenized government bonds linked to a central bank digital currency. While the government is committing 800 trillion won to semiconductor and AI "Mega Projects," it continues to foster blockchain innovation through regional pilots, such as Gyeonggi Province's stablecoin trial starting in August 2026.
South Korea blockchain strategy
- ▪South Korea plans to support large-scale blockchain pilot projects and propose amendments to the Capital Markets Act to enable the launch of spot cryptocurrency exchange-traded funds
- ▪South Korea's Ministry of Economy and Finance reaffirmed plans to expand its blockchain and digital asset sector in the second half of 2026 as part of its economic growth strategy
Stablecoin legislation framework
- ▪South Korean authorities plan to establish a legal framework for cross-border stablecoin transactions in the second half of 2026
- ▪Stripe filed a trademark application for "OPEN STANDARD" in South Korea on June 30, 2026, on behalf of the Open Standard consortium issuing the OUSD stablecoin
Digital Asset Basic Act
- ▪The draft Digital Asset Basic Act is reviewing measures that would require foreign stablecoin issuers to establish a domestic corporation or branch to conduct business in South Korea
- ▪South Korean authorities plan to advance the proposed Digital Asset Basic Act for enactment in the second half of 2026 to establish business conduct rules and standards for won-pegged stablecoins.
Tokenized government bonds pilot
- ▪South Korea will launch a pilot program in 2027 for tokenized government bonds linked to an institutional central bank digital currency project.
- ▪The Bank of Korea will study how its central bank digital currency infrastructure can interoperate with other external blockchain networks
Semiconductor investment priorities
- ▪South Korea's ruling Democratic Party is pushing a legislative amendment to lower the required shareholding ratio from 100% to 50% for sub-subsidiaries establishing wafer fabs outside the metropolitan area
- ▪South Korea designated physical AI, AI data centers, and semiconductors as three national "Mega Projects," planning an 800 trillion won investment to build semiconductor fabrication facilities in the southwest
Regional blockchain pilot projects
- ▪Gyeonggi Province confirmed an eight-month proof-of-concept program starting in August 2026 to test a blockchain-based stablecoin for regional currency and government payments
- ▪The Gyeonggi Province stablecoin pilot is led by blockchain security company ZKrypto, running until February 2027, and will utilize zero-knowledge proofs and proof-of-reserves technology
Story comments
Loading comments…