What happened
- Specific facts/numbers: The FSC proposed revisions to subordinate rules on October 1, 2026, with public comments open until November 11, 2026; the changes are intended to support tokenized securities issuance and circulation from February 4, 2027.
- Institutions involved: South Korea’s Financial Services Commission is leading the rule change, with the framework tied to the Financial Investment Services and Capital Markets Act, the Electronic Registration Act, and infrastructure roles for the Korea Securities Depository; the FSC’s earlier roadmap also referenced securities companies.
- Regulatory/technical context: The draft rules follow legislation passed earlier in 2026 recognizing distributed-ledger-based securities and build on the FSC’s September 4, 2026 policy roadmap for tokenized securities, including conventional securities such as stocks, bonds and funds as well as fractional investment structures.
- What to watch next: Watch for the close of the consultation on November 11, 2026, and then whether the revisions clear FSC resolution, legislative review and cabinet approval ahead of the planned February 4, 2027 effective date.
Why it matters
The draft rules move South Korea from high-level tokenization policy into implementable market rules, giving issuers and intermediaries a clearer path to launch regulated tokenized securities products.
HKMA Relevance
Indirect: South Korea’s move adds to the regional momentum for regulated tokenized securities frameworks that Hong Kong policymakers and market infrastructures are also actively developing.