Government Business Promotion Expenses to Be Paid with 'Deposit Tokens'... Pilot Project Launching in Q4

"Increasing Transparency and Easing Commission Burden for Small Business Owners"

The government is pushing forward a plan to execute business promotion expenses of ministries and public institutions using blockchain-based deposit tokens instead of credit cards.

The Ministry of Economy and Finance announced on April 15 that the 'Pilot Project for Execution of Treasury Funds Using Blockchain-based Digital Currency' was selected as a 2026 regulatory sandbox project organized by the Office for Government Policy Coordination.

This marks the second case of utilizing digital currency in national treasury projects, following the previous case where subsidies for electric vehicle charging facility construction were distributed in the form of deposit tokens.

Currently, business promotion expenses are executed using government procurement cards such as credit cards or check cards, and if used during restricted hours such as late at night or on weekends, they require post-usage explanation for management purposes.

The Ministry of Economy and Finance believes that executing business promotion expenses using deposit tokens can increase transparency, as it allows for the pre-setting of permissible hours and industries for expenditures.

Additionally, the ministry explained that a payment structure with no intermediaries could reduce the commission burden on small business owners.

The ministry aims to officially launch the pilot project in the fourth quarter of this year, selecting participating businesses and going through related procedures. The project will initially focus on Sejong City, and, based on the operational results, the scope of application will be gradually expanded.

The Office for Government Policy Coordination also plans to promote as regulatory sandbox projects: allowing products consisting of unfinished vehicles or mobility components, rather than only finished cars, to be charged at hydrogen charging stations; and permitting the connection and operation of other vehicles, such as trailers, to autonomous vehicles in designated areas if certain conditions are met.

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