Insurance Training Institute Forms Digital Asset Review Committee...Ha Tae-kyung: "A New Milestone for Innovation in the Financial Industry"

Koo Tae-eon Appointed as Chair of the Review Committee, Vice President of the Blockchain Law Society
Pursuing Acquisition of Bitcoin and Ethereum Using Stablecoin

The Insurance Training Institute announced on March 20 that it has established a Digital Asset Review Committee to develop internal standards for operating digital assets as proprietary assets in line with the institutionalization of the Korean won stablecoin and related regulatory changes.

Ha Tae-kyung, Head of the Insurance Training Institute, is being interviewed by The Asia Business Daily at the Insurance Training Institute in Seongbuk-gu, Seoul. Photo by Jo Yongjun

The committee’s initial tasks will include establishing guidelines for the operation of digital assets, creating a risk management framework, setting accounting and tax processing standards, and preparing internal control mechanisms. These initiatives are in response to the new financial order driven by artificial intelligence (AI) and cryptocurrencies.

Koo Tae-eon, Vice President of the Blockchain Law Society and attorney at Lin Law Firm, has been appointed as the chair of the committee. Koo is a digital finance legal expert who has been active in the institutionalization of the virtual asset industry and in regulatory innovation.

Other committee members include Professor Yoon Seong-ho of Hanyang University, Adjunct Professor Park Cheol-young of Dongguk University (Digital Asset Law), Son Hye-min, Director of Studies at the institute’s Crypto School, and Lee Jeong-min, Head of Management at the institute.

The institute plans to actively apply the technical expertise it has gained through the successful pilot project of the Crypto School’s digital asset payment program to its digital asset operations.

Once the committee establishes the regulations, the institute plans to use the stablecoin it holds to acquire Bitcoin and Ethereum.

The institute intends to convene a committee meeting as soon as possible to develop leading digital asset management guidelines and internal regulations that comply with the prevailing regulatory environment.

If these guidelines are enacted and the Insurance Training Institute soon acquires Bitcoin, it will become the first case of an institution in Korea holding Bitcoin.

President Ha Tae-kyung stated, “The launch of the committee could serve as a new milestone for asset management innovation using digital assets within the financial and insurance sectors. The institute will do its utmost to serve as a practical model for the new financial economy driven by AI and digital assets.”

This content was produced with the assistance of AI translation services.