South Korea's Financial Services Commission has committed to rebuilding the capital-market infrastructure around distributed ledger technology, starting with a three-phase tokenized securities roadmap on February 4, 2027. Amendments to the Act on Electronic Registration of Stocks and Bonds will recognize blockchain-based distributed ledgers as legally valid securities registries. The first phase covers privately placed money market funds and corporate bonds for institutional investors, unlisted shares tokenized through trust structures, and publicly offered fractional investment securities. Listed stocks on the Korea Exchange are reserved for a later phase. The program's eventual goal is on-chain settlement using won-denominated stablecoins, enabling atomic delivery-versus-payment, but that phase depends on passage of the stalled Digital Asset Basic Act and resolution of a dispute between the Bank of Korea and the FSC over stablecoin issuance. Existing licensed financial firms will not need separate authorization, while issuer account management entities will face a 4 billion won capital requirement and specific staffing rules.