"STOs can innovate the structure of capital markets from issuance and distribution to trading and settlement. They offer companies new avenues for funding and provide investors with a wider range of investment opportunities," said Kwak Young-gil, chairman of Aju News Corporation, during the Aju Economic Forum held on November 2 at the Korea Exchange in Yeongdeungpo, Seoul.
Kwak emphasized that "token securities utilizing blockchain technology do not merely change the form of financial products." He noted, "The financial market has continuously evolved with the changes of the times and advancements in technology. Today, we stand at another critical turning point in the digital capital era that token securities will usher in."
He added that the tokenization of assets, which began with real estate and artworks, shows potential for expansion into traditional financial products such as stocks, bonds, and funds.
Kwak stressed the importance of adhering to fundamental financial principles despite technological advancements. He stated, "For the token securities market to succeed, investor protection, transaction transparency, sufficient liquidity, and technological stability must be ensured. The new financial market should evolve into a productive space that contributes to corporate growth and the asset formation of the public, rather than remaining confined to short-term speculative demands."
He also mentioned that progress is being made in the refinement of related laws and regulations in South Korea. "What is now crucial is to go beyond the introduction of regulations and create a sustainable market where innovation and trust coexist. Financial authorities, financial companies, and technology firms must collaborate to pool their wisdom," he urged.
Kwak emphasized that "token securities utilizing blockchain technology do not merely change the form of financial products." He noted, "The financial market has continuously evolved with the changes of the times and advancements in technology. Today, we stand at another critical turning point in the digital capital era that token securities will usher in."
He added that the tokenization of assets, which began with real estate and artworks, shows potential for expansion into traditional financial products such as stocks, bonds, and funds.
Kwak stressed the importance of adhering to fundamental financial principles despite technological advancements. He stated, "For the token securities market to succeed, investor protection, transaction transparency, sufficient liquidity, and technological stability must be ensured. The new financial market should evolve into a productive space that contributes to corporate growth and the asset formation of the public, rather than remaining confined to short-term speculative demands."
He also mentioned that progress is being made in the refinement of related laws and regulations in South Korea. "What is now crucial is to go beyond the introduction of regulations and create a sustainable market where innovation and trust coexist. Financial authorities, financial companies, and technology firms must collaborate to pool their wisdom," he urged.
* This article has been translated by AI.
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