▷ On the 20th, a topic presentation was held at the Seoul Yeouido National Assembly seminar room.
▷ “Positive regulatory approach hinders the growth of emerging industries.”
On the 21st, during the “Seminar on Token (STO) and Virtual Asset Market Regulation and Investor Protection,” held in the 1st seminar room of the Seoul Yeouido National Assembly Hall, Hue Sung-min, the CEO of Healand Co., Ltd. spoke about “Token Securities for Startups.”
Mr. Hue expressed his concern that their ongoing Healium project is experiencing growth delays due to the positive regulatory approach (specifying what is allowed and regulating everything else). He stated, “While preparing the platform for three years, we have faced difficulties in business growth due to positive regulations. Positive regulations may be appropriate for areas related to life, safety, and healthcare, but they do not fit well in emerging industries. This is why most advanced countries, including the United States, use negative regulatory approaches.”
The Healium project aims to improve and establish the healthcare market using blockchain technology. It aims to create a platform that promotes remote healthcare services, personalized medical services, and consumer participation, aligning with the era of healthcare 3.0. The project aims to build a consumer-centric digital healthcare system.
Furthermore, the CEO, Hue Sung-min expressed concerns that positive regulations would bring about a contraction in the STO market. He stated, “While preparing for the project, we often encountered situations where many planned activities became unfeasible after legal consultations. As a result, we have seriously considered whether it would be better to promote platforms with less regulation overseas.” He also mentioned the difficulties in investor protection and other side effects that arise from positive regulations.
In conclusion, he emphasized, “Many startup companies are contributing to the token ecosystem in South Korea with great ideas. I urge for token securities to become a stepping stone rather than an obstacle for startups.”