South Korea reforms national asset law to include cryptocurrency, intellectual property, and securities

The South Korean government announced plans on August 6, 2026, to overhaul its 1950 State Property Act into the National Asset Framework Act. The reform integrates cryptocurrency, intellectual property, and securities into a unified national asset system. Virtual assets, valued at 78 billion won as of April 2026, will be legally defined as national assets and auctioned. The plan also establishes a National Asset Management Committee and introduces a 'utilization first' principle for state IP.

National Asset Framework Act reform

• ▪The South Korean government announced on August 6, 2026, plans to overhaul the 1950 State Property Act into the National Asset Framework Act.
• ▪South Korea's state property value grew to more than 1.4027 quadrillion won as of the end of 2025.
• ▪The South Korean government aims to draft the National Asset Framework Act by the end of 2026, shifting state property management from "ownership and preservation" to "active operation and value creation."

Cryptocurrency as state property

• ▪The South Korean government plans to enshrine in law the basis for entrusting virtual assets to private exchanges and recovering assets from overseas exchanges and electronic wallets.
• ▪Under the proposed National Asset Framework Act, South Korea will define virtual assets acquired through donations or criminal revenue recovery as "national assets" and put them up for auction immediately.
• ▪As of April 2026, the South Korean central government held approximately 78 billion won in virtual assets, managed only by guidelines without a comprehensive legal basis.

Intellectual property management overhaul

• ▪The South Korean government plans to shift state-held intellectual property management to a "utilization first" principle, extending the maximum five-year license period.
• ▪The South Korean government is considering creating a "national IP bank" to register state intellectual property, manage use contracts, and handle revenue sharing.
• ▪As of the end of 2025, South Korea's state-held intellectual property grew to 230 billion won, but management remained scattered across different ministries.

Government securities oversight

• ▪The proposed life cycle framework for South Korean government-held securities will cover acquisition, valuation, dividends, shareholder rights exercise, and disposal.
• ▪South Korea's government-held securities and investment equity, which totaled 328.7 trillion won as of the end of 2025, will be managed under a full life cycle framework.

National Asset Management Committee establishment

• ▪The South Korean government is considering expanding the scope of entrusted operations to the Korea Asset Management Corporation (KAMCO) and integrating management and disposal authority.
• ▪The South Korean government will establish a National Asset Management Committee by expanding and reorganizing the current State Property Policy Deliberation Committee.
• ▪Under the new asset management system, each South Korean ministry will designate a national asset officer to oversee asset policies.