South Korea’s Democratic Party Weighs Reestablishing Digital Asset Task Force

South Korea’s Democratic Party is positively considering reestablishing its Digital Asset Task Force as it reorganizes floor leadership task forces, Bloomingbit reported exclusively on June 11.

Kim Han-kyu, the party’s senior deputy floor leader for policy, said all floor leadership task forces, including the Digital Asset Task Force, had expired and must be set up again. The party is positively reviewing whether to reestablish the digital asset group, he said.

The Democratic Party launched the Digital Asset Task Force in September last year to prepare measures to institutionalize the digital asset market. Lawmaker Lee Jeong-moon served as chair and lawmaker Ahn Do-geol as secretary. Lawmakers Kang Jun-hyeon, Min Byoung-duk, Kim Hyun-jung, Park Min-kyu, Lee Kang-il, Han Min-soo and Lee Joo-hee also participated in discussions on related policy and legislative tasks.

The task force’s activities automatically ended when the floor leader’s term expired. A task force official said the Digital Asset Task Force was dissolved automatically when that term ended.

The party plans to reorganize the task forces it needs once the standing committees are formed. Kim said the necessary task forces would be restructured after the standing committee lineup is completed.

The Democratic Party aims to complete the formation of Assembly committees by no later than June 18. Floor leader Han Byung-do told a general meeting of lawmakers on June 11 that the party would engage fully in negotiations with the opposition, but would not tolerate stalling under its third floor leadership and would push to wrap up talks by next week.