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South Korea’s Financial Services Commission (FSC) has announced plans to gradually allow corporations to trade virtual assets, a move aimed at bolstering the country’s position in the digital asset sector. 

The policy, part of the FSC’s 2025 Key Work Promotion Plan, includes a phased issuance of real-name accounts for corporate entities, according to a report by Yonhap News Agency.‍

Phased Acceptance of Corporate Real-Name Accounts

Under the current framework, only individual accounts verified under the Specific Financial Information Act can invest in virtual assets. While there are no legal restrictions on issuing real-name accounts to corporations, financial authorities have discouraged banks from doing so.

The FSC plans to change this by first extending eligibility to non-profit corporations, with further rollouts to follow. The policy will be discussed with the Virtual Asset Committee, and detailed measures are expected soon.

Additionally, the FSC intends to promote the second phase of the Virtual Asset Law. This legislation, which builds on last year’s Virtual Asset User Protection Act, will establish regulations for the issuance and distribution of virtual assets.

The FSC aims to enhance oversight of virtual asset operators by introducing eligibility reviews for major shareholders and adding social credit requirements under revisions to the Special Financial Transactions Act. The commission also plans to improve self-regulation within the industry by setting stricter criteria for assessing memecoins and increasing investigations into unfair practices using advanced forensic tools.‍

Support for Fintech Collaboration

The FSC is also easing restrictions on financial holding companies to foster greater collaboration with fintech firms. Currently, financial holding companies are limited to owning a maximum of 5% of non-subsidiary stocks. The new framework will raise this limit to 15% and allow fintech subsidiaries of financial holding companies to own shares in other financial entities.

The changes aim to strengthen data sharing and streamline business consignment between subsidiaries within financial holding groups.‍

Advancing Financial Services for an Aging Society

To address the needs of an aging population, the FSC is exploring changes to insurance and savings products. Proposed initiatives include allowing death insurance payments to be converted into annuities and adding medical savings account functions to individual savings accounts (ISAs). The commission also plans to extend the eligibility for loss insurance subscriptions to individuals aged up to 90 years and increase coverage limits to 110 years.‍

IPO and Capital Market Reforms

The FSC’s 2025 plan also includes reforms to initial public offerings (IPOs) and delisting processes. Measures include increasing mandatory holding commitments for institutional investors and tightening qualifications for institutions participating in demand forecasting to improve IPO pricing rationality.

For delistings, the FSC plans to strengthen listing maintenance conditions and streamline the delisting process. It will also implement initiatives to enhance corporate value, including tax incentives and joint investor relations campaigns.