South Korean securities firms are expanding partnerships with crypto exchanges, blockchain companies and global technology providers as the country prepares to formalize security token offering rules next year. Mirae Asset Group, Korea Investment & Securities and Hanwha Investment & Securities have taken stakes in major exchanges, while Samsung Securities is discussing cooperation with Dunamu. Brokerages are also building issuance systems independently or joining shared infrastructure, creating a coordination challenge because distributed ledgers may be fragmented across firms. Meanwhile, KB Securities is working with Securitize and the Optimism Foundation, and market operators KDX and NXT are preparing over-the-counter venues for fractional investment products.