A South Korean digital industry association has published a draft framework for secondary rules governing security token offerings, outlining several core elements expected in the regime. The proposal would allow issuance backed by pooled underlying assets of the same type, set annual over-the-counter trading limits for ordinary investors, define market-entry requirements for platforms handling non-standardized securities, and map out a phased roadmap for tokenizing standardized securities. The framework is based on public policy direction and industry discussions rather than final rules, and the detailed standards still need to go through legislative notice and regulatory review. Key unresolved issues include whether pooled assets could be replaced after issuance, whether annual trading caps for retail investors should be raised, and how broadly securities firms would be allowed to combine issuance and distribution businesses. Current sandbox limits cited in the discussion are about 10 million won for music revenue securities and about 20 million won for fractional real-estate investment products.