Sejong Telecom Signs Business Agreement with Korea Ratings for Token Securities Project

Sejong Telecom (CEO Lee Byung-guk) signed a business agreement on the 2nd with Korea Ratings Corporation (CEO Kim Ki-beom) to collaborate on the valuation of underlying assets and the issuance of token securities.

(From left) Park Hyo-jin, Vice President and Head of Blockchain Business at Sejong Telecom, and Yeom Seong-o, Head of Business Value Evaluation Division at Korea Enterprise Data. / Photo by Sejong Telecom

This agreement was promoted to prepare for the future institutionalized token securities issuance platform business. Both companies plan to jointly carry out various tasks to establish a concrete business foundation, including ▲establishing an asset valuation process for various underlying assets held by issuing companies ▲building a token securities issuance system based on the asset valuation results.

Korea Ratings Corporation will conduct asset valuation for the underlying assets of the STO business promoted by Sejong Telecom to issue token securities, and Sejong Telecom will issue blockchain-based token securities based on the results.

Sejong Telecom operates blockchain-based platforms across various industries such as real estate, MyData, and distribution. In May, it was selected for the 2023 Blockchain Technology Verification (PoC) support project promoted by the Ministry of Science and ICT and the National IT Industry Promotion Agency (NIPA), and is currently carrying out the task of "Building a blockchain-based token securities issuance platform and linking it with distribution systems" using rare minerals.

Korea Ratings Corporation is the only credit rating company listed on KOSDAQ in Korea, conducting three main businesses: business valuation, credit rating, and information services. It holds business feasibility evaluations and references for various assets such as music copyrights, ships, and aircraft, and is expected to facilitate evaluations of new underlying assets in the future, including real estate, ships, entertainment, artworks, and minerals.

Park Hyo-jin, Vice President and Head of Blockchain Business at Sejong Telecom, stated, “The institutionalization of token securities will be a major turning point that changes the paradigm of investment.” He added, “Through this agreement, we will mutually cooperate to build the STO ecosystem and revitalize the industry by combining Sejong Telecom’s operational know-how, which has already provided the first domestic STO-type service through regulatory sandbox, and Korea Ratings Corporation’s support in business feasibility evaluation.”