Wu said he was informed that South Korea's Ministry of Education intends to develop guidelines for the accounting treatment of donations of virtual assets, according to the Herald. The Ministry of Education of South Korea stated that it will formulate guidelines for universities as soon as possible after the South Korean financial department confirms the "Guidelines for the Accounting Supervision of Virtual Assets". South Korea’s Ministry of Education stated that if a university accepts donations of assets other than cash (stocks, etc.), they can be evaluated and accounted for according to the fair value at the time of donation.