South Korea's National Assembly subcommittee has approved amendments to the Electronic Securities Act and the Capital Markets Act, marking a significant step forward for Security Token Offering (STO) regulation. The legislation, passed on November 24, integrates blockchain distributed ledger technology into the electronic registration system and legalizes fractional investments and small-scale over-the-counter trading platforms. The KRX KDX Alliance, NXT Alliance, and SOYOU Alliance are competing for up to two platform licenses. If the amendments pass the full National Assembly next month, the tokenization of various physical assets, including real estate, art, and music copyrights, will be fully incorporated into the regulatory framework, with the market expected to open in the first half of next year.