Lee Eog-weon, Chair of South Korea’s Financial Services Commission (FSC), met Bob McCooey, Vice Chair of Nasdaq; Timothy Cuddihy, Chief Risk Officer of the Depository Trust & Clearing Corporation (DTCC); and Tae Seok Yoo, Managing Director of Hong Kong Exchanges and Clearing (HKEX), during Korea Capital Market Premium Weeks.
DTCC said tokenised securities were likely to become an important part of the future financial industry and that the United States’ move to T+1 settlement required more than three years of preparation and coordinated sequencing. HKEX described the dependencies around its planned second-half 2027 move to T+1, including simultaneous technology programmes, participant needs and Asia–US time-zone constraints. Nasdaq discussed market segmentation and delisting discipline.
The FSC linked those lessons to Korea’s own agenda. Amendments enabling tokenised securities under the Electronic Securities Act take effect on 4 February 2027. No Korean T+1 implementation date was announced.
FMI WORLD analysis: The meeting frames tokenisation and settlement compression as one capacity-and-sequencing problem rather than separate technology projects. T+1 accelerates funding, foreign-exchange, matching and exception-management cut-offs; tokenised-securities infrastructure creates a parallel build across issuance, custody, settlement and supervisory controls.
For Korea, the immediate operational test is whether market infrastructure and intermediaries can absorb the February 2027 tokenisation start while designing any shorter settlement cycle without creating overlapping migration risk.
The Korea Exchange, Korea Securities Depository, brokers, custodians, banks, asset managers, foreign investors, technology vendors and supervisors. International intermediaries are exposed through time-zone, foreign-exchange funding, custody and cross-border settlement dependencies.
Watch for an FSC timetable or consultation on Korea’s settlement cycle, subordinate rules and infrastructure testing ahead of 4 February 2027, and HKEX’s participant-readiness design for its planned second-half 2027 T+1 move.
Verification boundary: The FSC record establishes the participants and attributed operational observations. It does not establish a Korean T+1 decision or implementation date, or a signed commercial transaction between the institutions.
Primary source — Financial Services Commission, Republic of Korea.
FMI WORLD NEWSROOM story reference: FMIWT-20261001-001.