Ruling party committee suggests using digital assets to boost KOSDAQ to 3,000

The Democratic Party's KOSPI 5,000 Special Committee has proposed to President Lee Jae-myung that South Korea's next goal should be to achieve a KOSDAQ index of 3,000 by utilizing digital assets, the Maeil Business Newspaper reported exclusively. During a luncheon at the Blue House on Jan. 22, Democratic Party lawmaker Min Byeong-deok reportedly conveyed the idea to the president, who was said to have listened attentively. Min argued that allowing KOSDAQ-listed startups and other companies to use instruments like security tokens (STO) and won-denominated stablecoins could vitalize the market. He also asserted that the development of stablecoins should not be centered around banks.