South Korea’s Ministry of Economy and Finance says it will update the government’s asset management system through a new legal framework. The ministry plans to establish a “National Asset Basic Act,” aimed at restructuring how state assets are managed. Multiple reports say the changes are intended to bring additional categories of assets under state oversight, including digital assets and intellectual property. The announcement signals that the government is moving beyond traditional asset classifications and creating a broader, formal approach to managing newer asset types. While the ministry’s statement focuses on the law’s purpose and scope, specific implementation details, timelines, and how digital assets would be valued, recorded, or supervised under the framework were not included in the provided summaries. Overall, the sources agree that the government is preparing a new state asset management system and that digital assets will be included within its coverage, alongside intellectual property, under the proposed legislation.
South Korea plans new state asset management law to cover digital assets
South Korea’s Ministry of Economy and Finance says it will update the government’s asset management system through a new legal framework. The ministry plans to establish a “National Asset Basic Act,”...
- South Korea’s Ministry of Economy and Finance announces a new state asset management framework.
- The planned law is described as a “National Asset Basic Act.”
- The government aims to update how state assets are managed.
- The framework is intended to include digital assets.
- The framework is also set to cover intellectual property.
South Korea’s Economy ministryplans to include digital assets and intellectual property under the country’s new state-asset management framework.
5 hours agoThe Ministry of Finance and Economy said it will establish the 'National Asset Basic Act' to update the government's asset management system.
8 hours ago
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