[South Korean National Assembly Passes Two Legislative Amendments to Regulate Security Tokens] According to Digital Asset, the South Korean National Assembly has voted to pass amendments to the *Capital Markets Act* and the *Electronic Securities Act*. This marks the formal establishment of a framework for the issuance and circulation of security tokens (STOs) approximately three years after the country’s financial regulatory authorities issued related guidelines. The core content of the amendments includes the introduction of the distributed ledger concept, allowing issuers meeting certain conditions to directly issue and manage tokenized securities through electronic registration. Additionally, a new 'issuer account management institution' has been established. Furthermore, atypical securities such as investment contract securities will also be brought under the regulatory scope of the *Capital Markets Act*. The amendments will allow these securities to circulate in the over-the-counter (OTC) market through the establishment of new OTC brokerage services. The revised *Capital Markets Act* will take effect upon its announcement. However, provisions related to investment solicitation guidelines will take effect six months after the announcement, and provisions related to OTC trading will take effect one year after the announcement.