South Korea Pushes National Assets Act to Include Virtual Assets, Effective July 15

According to Foresight News citing Yonhapnews, South Korea's Ministry of Economy and Finance is pushing to enact the National Assets Act on July 15 to include virtual assets in its management framework, replacing the 1950 National Property Act which was designed primarily for real estate. The move aims to encompass knowledge properties and digital assets that have gained significant value in recent years. The ministry also plans to shift from five-year comprehensive surveys of state assets to annual reviews and will introduce an offshore Korean won settlement system in January 2027 to promote won convertibility.
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