South Korea: New Technology

These drafts are intended to operationalize the Act—which was passed on December 26, 2024 and scheduled to take effect on January 22, 2026—so that core duties and procedures are in place in advance of the effective date.

In advance of South Korea's first AI Act taking effect in January 2026, a recently published draft presidential decree has clarified the regulatory framework, resolving some initial uncertainties. The law seeks to balance innovation and safety, with the government explicitly stating its commitment to a "minimum regulation" approach.

Under Korea's Foreign Exchange Transactions Act, cross-border payments with dollar stablecoins are currently illegal. However, with their use expected to surge, the law may be revised to allow such transactions as a prior-reporting exception, limited to licensed operators.