South Korea is poised to reform its 76-year-old National Property Act, officially recognizing cryptocurrencies and intellectual property as national assets. This significant change aims to modernize the framework for managing government assets and is part of a broader initiative to integrate blockchain technology into public finance.
According to the Ministry of Economy and Finance, the revised law will take effect on February 4, 2027, and will also recognize blockchain-based ledgers as security registries under the Capital Markets Act and the Electronic Act. This legal recognition is expected to facilitate the management of digital assets more effectively.
The government plans to initiate a pilot program for tokenized government bonds in 2027, leveraging blockchain technology to enhance transaction efficiency and reduce costs. Additionally, the proposal includes exploring the tokenization of state-owned real estate, allowing retail investors to gain access to investment opportunities in public properties.
