South Korea said on July 15 that it will draft a new Framework Act on State Assets, a move aimed at modernizing how government-owned assets are managed and expanding the legal perimeter to cover emerging asset classes such as cryptocurrencies. The Ministry of Economy and Finance said the current State Property Act was enacted in 1950 and was built around an asset structure centered on real estate, making it ill-suited to today’s more complex financial environment.
Under the proposed framework, the definition of state assets would be broadened to include intellectual property and virtual assets. The government also said it plans to apply more specialized management and utilization mechanisms depending on the asset category, shifting the focus of state asset administration away from preservation, disposal and basic development toward value enhancement.
At a Cabinet meeting held on Monday, the ministry said that while South Korea’s current national technology strategy is more focused on artificial intelligence, its commitment to developing the blockchain and digital-asset ecosystem remains in place. As part of its economic growth strategy for the second half of 2026, the government also outlined two blockchain-related priorities: continuing central bank digital currency development and speeding up work on the Digital Asset Basic Act for cryptocurrencies and stablecoins.
South Korea said on July 15 that it will draft a new Framework Act on State Assets, bringing cryptocurrencies and other emerging assets into the state asset management system as part of a broader overhaul of how government-owned assets are administered.
A legal structure built in 1950 is being reworked
The Ministry of Economy and Finance said the current State Property Act was enacted in 1950 and was designed around an asset structure centered on real estate. In the ministry’s view, that framework no longer fits today’s more complex financial environment.
Under the new legal structure, the scope of what counts as a state asset would be expanded. Intellectual property and virtual assets would be included, and the government said it plans to introduce more specialized management and utilization mechanisms for different categories of assets.
Focus shifts from preservation to value enhancement
The government said it wants state asset administration to move away from a model focused on preservation, sale and basic development, and toward one centered on increasing asset value.
At a Cabinet meeting on Monday, the ministry also said that although South Korea’s current national technology strategy is more heavily focused on artificial intelligence, its commitment to promoting the blockchain and digital-asset ecosystem remains unchanged.
Blockchain policy priorities were also outlined
As part of South Korea’s economic growth strategy for the second half of 2026, the government presented a blueprint for fostering the blockchain industry. The policy focus includes two items:
- continuing development of a central bank digital currency, or CBDC;
- accelerating work on the Digital Asset Basic Act to build a dedicated legal framework for cryptocurrencies and stablecoins.
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