Written by Four Pillars, Hashed Open Research, Shinhan Securities, Bae Kim Lee LLC

The global financial system is reorganizing around RWAs and stablecoins. Absent timely legislation and a coherent national strategy, Korea risks becoming not an architect of the digital financial era but a user of systems designed elsewhere. The “Digital G2” vision advanced in our earlier reports remains attainable only if Korea actively helps shape the protocols of this new financial infrastructure.

This report sets out a blueprint for a future structured around RWAs and reaffirms the indispensable role of stablecoins as the engine of this ecosystem. Through these two pillars — RWAs and stablecoins — we outline strategic directions for Korea to establish leadership in the next generation of global finance.

▫️ Introduction: The Future Economy Needs Future Money

▫️ PART 1. Digital Transformation and the Inevitability of RWA

▫️ PART 2. The Issuance of Local Stablecoins and Asset Tokenization Must Proceed Simultaneously

▫️ PART 3. Issuance & Strategy of Global RWA Platforms

▫️ PART 4. Korean RWA: Security Tokens

▫️PART 5. Legal Structures of Real-World Asset Tokenization and Proposed Regulatory Framework in Korea