Plume Network: “Korea is an attractive tokenization market…we’ll pursue it in line with regulations”

Plume Network, a blockchain-based real-world asset tokenization (RWA·Real World Asset) project, signaled direct interest in the Korean market. In particular, Plume CEO Chris Yin said the company plans to closely monitor Korea’s regulatory environment to that end.

On the 12th, at a press briefing held at the FKI Tower in Yeouido, Seoul, Yin was asked whether “Korea can become a meaningful market for security tokens (STO) and RWA.” He replied, “Korea is a market with a strong economic foundation and competitiveness in culture and intellectual property (IP),” adding, “As global investors increasingly seek to diversify across assets in various countries, Korean assets can offer sufficiently attractive opportunities.”

He also said partnerships with Korean companies are possible. Yin explained, “Through a partnership with B-DAX, we have already begun business in the Korean market, including introducing KRW1, a won-pegged stablecoin that is a type of RWA,” and added, “We plan to announce additional collaboration plans sequentially over the coming months.”

Yin said the company is also watching Korea’s regulatory situation. On the 15th of last month, the National Assembly passed revisions to the Capital Markets Act and the Electronic Securities Act at a plenary session, including provisions to legally allow the issuance and distribution of security tokens. The legislation is set to take effect in January next year.

Yin said, “(As for our business roadmap in Korea) it will be determined by the pace of regulatory improvements over the next 1–2 years,” adding, “Until the regulatory framework is completed, we will operate in compliance with it.” He continued, “I don’t think it’s right for the virtual asset industry to unilaterally deliver demands to regulators,” adding, “We will actively cooperate with regulators to protect consumers.”

However, he said, “Even if regulatory clarity does not pass, it doesn’t mean we can’t do business at all,” adding, “Through discussions with companies, we will move forward with building and piloting the RWA market in Korea.”