South Korea FSC chief says digital-asset legislation will be accelerated

Push for digital-asset rules

Lee said he would work to accelerate legislation designed to build what he described as a sound digital-asset ecosystem. He did not provide details on the contents of the bills or set out a timetable for when the legislation might move forward.

The chairman presented the pledge as part of a wider policy agenda covering financial stability, consumer protection and industry support during a period he said is marked by tighter global monetary conditions and the prolonged war in the Middle East.

Tougher action on crypto-linked voice phishing

Lee said the government will strengthen its response to voice-phishing schemes that make use of virtual assets, or cryptocurrencies. He pointed to the establishment of a system for sharing suspicious information among the financial sector, telecommunications companies and investigative authorities.

He also cited the creation of a regulatory framework for voice phishing involving virtual assets. In addition, he said efforts to improve suspicious-transaction detection will continue, indicating that enforcement and monitoring measures are still being expanded.

Support for vulnerable borrowers and small businesses

According to Lee, support for vulnerable groups will include lower interest rates on policy microfinance products and a larger supply of new support programs. For borrowers with long-term delinquent debt that is difficult to repay, the government plans debt restructuring or write-offs, alongside changes to debt-collection practices and the system used to manage delinquent loans.

He said tailored financial support will also be expanded for young people and small-business owners. The government will keep rolling out products such as the Youth Future Savings program to address barriers related to income and transaction history, and it plans to introduce a credit-assessment model designed for small-business owners.

For small merchants with long-term delinquent debt, support is expected to proceed in stages, from restructuring obligations to helping with business recovery.

Household debt, housing and policy finance

Lee said strict household debt management and support for genuine end-users in the housing market would be pursued at the same time. The government will maintain a tight stance on household debt, including efforts to curb speculative loan demand, while continuing to supply microfinance and mid-rate loan products.

He added that tailored support for end-user homebuyers and financial measures to promote housing supply will continue. On the industry side, Lee said the government plans to expand the National Growth Fund to 200 trillion won from 150 trillion won, widen eligibility for support and increase direct investment.

Policy financing outside Seoul is also set to take a larger share, with preferential funding planned for regional strategic industries and companies relocating to provincial areas.

Regulatory changes and next steps

Beyond lending and digital assets, Lee said the government will ease network-separation rules for the financial industry as long as security is maintained. It also plans measures aimed at improving the competitiveness of financial companies and the fairness of their governance structures.

Lee asked lawmakers to back the legislation and budget needed to carry out the agenda. For now, the clearest confirmed next step is continued discussion in the National Assembly, while details such as the substance and timing of the promised digital-asset bills remain unspecified.