South Korea's Financial Services Commission proposed rules for issuing and trading tokenized securities, scheduled to take effect on Feb. 4, 2027. The proposal would allow stocks, bonds, funds and certain fractional investment securities to be issued and circulated in tokenized form. Companies that issue tokenized securities while directly managing customer accounts would need at least 4 billion Korean won ($2.8 million) in equity capital. Retail investors would be limited to 100 million won ($70,000) in annual net purchases on each over-the-counter exchange.