TechFlow news — On January 15, according to Yonhap News Agency, the South Korean National Assembly passed 11 civil bills during its plenary session, including the institutionalization of a Security Token Offering (STO) framework. The revised versions of the "Capital Markets and Financial Investment Business Act" and the "Electronic Registration Act for Stocks, Bonds, and Other Securities" apply blockchain technology to the digital securities sector, aiming to enhance the security and usability of securities.
The amendments allow issuers meeting specific criteria to directly issue security tokens and introduce a system of issuer account management institutions. Security tokens are a new type of digital security that leverage blockchain technology to improve security and functionality.
