Vice Chairman Kwon Dae-young of the Financial Services Commission presided over the second meeting of the joint consultative body on security token with officials from related organizations, industry groups, and private sector experts on May 15. In his opening remarks, Vice Chairman Kwon spoke about the importance of striking a proper balance between promoting innovation and ensuring accountability in the security token ecosystem. In this regard, Vice Chairman Kwon said that authorities will consider ways to allow the issuance of fractional investment securities through a pooling of identical types of underlying assets. With regard to the circulation of security tokens, Vice Chairman Kwon said that authorities will work to design a market structure that can boost efficiency in transactions, while ensuring fairness in competition and protection for investors.