Seoul Serious Crimes Office to Add Joint Virtual Asset Unit Before Oct. 2 Launch

A unit dedicated to virtual asset-related crimes will be created within South Korea's new Serious Crimes Investigation Office, which is set to launch in October.

Digital Asset reported on Aug. 4 that the Ministry of the Interior and Safety's launch task force unveiled an organizational plan that includes a Joint Virtual Asset Investigation Division at the Seoul Regional Serious Crimes Investigation Office.

The division will be placed under the Financial Crimes Investigation Bureau, which reports to the Seoul office's first deputy chief. Personnel seconded from related agencies, including the Financial Services Commission and the National Tax Service, are also set to work there.

Until now, financial authorities have investigated suspects accused of violating the Virtual Asset User Protection Act and referred cases through the Supreme Prosecutors' Office, usually to the Seoul Southern District Prosecutors' Office's Joint Investigation Unit for Virtual Asset Crimes. After the new agency opens, the Seoul office's Joint Virtual Asset Investigation Division will assume that role.

The Serious Crimes Investigation Office will consist of a headquarters and six regional offices in Seoul, Suwon, Daejeon, Daegu, Busan and Gwangju. It will investigate seven categories of major crimes: corruption, economic crimes, defense procurement, narcotics, insurrection and foreign exchange, cybercrime, and obstruction of justice.

The agency will have a total headcount of 2,874, including 2,567 investigators. The Seoul office will receive the largest allocation, with 1,089 personnel, reflecting the concentration of major criminal cases in the capital.

Separately, the ministry plans to publish the proposed rules for public comment from Aug. 5 to Aug. 10 and proceed with staffing. The Serious Crimes Investigation Office will officially launch on Oct. 2.