[Block Festa 2026] Eugene Investment & Securities: "Demand for K-stocks is Growing Overseas... We Need to Expand Global Distribution through Tokenization"

Block Festa 2026 Presents Global Distribution Strategy for K-Stocks

K-stock perpetual futures at $176 billion... SK Hynix 92%

"K-assets should go where global investors are..." Proposal to Utilize Tokenization

[Reporter Oh Su-hwan, Block Media] As overseas investment demand for domestic stocks rapidly increases, there are suggestions to widen the global distribution channels for K-stocks using tokenization. With the surge in perpetual futures trading based on Korean stocks at overseas digital asset exchanges, it is necessary to connect the already formed overseas demand with the domestic capital market.

Kim Se-hee, a senior researcher at Eugene Investment & Securities, made this statement during a presentation titled "From K-Perp to Tokenization: Global Distribution Strategy of the Korean Stock Market" at the 'Block Festa 2026' held at the IFC The Forum in Yeouido, Seoul, on the 1st.

Kim diagnosed that the investment demand unmet by the domestic stock market is rapidly moving to overseas markets. He stated, "Demand for trading hours, leverage, short selling, and immediate access that the domestic regular market does not provide is being created as separate overseas financial products."

In fact, the cumulative trading volume of Korean individual stock perpetual futures traded on 11 major global exchanges was approximately $176 billion from February 19 to August 8. Among this, the trading volume of SK Hynix accounted for $161 billion, or 92% of the total.

The trading scale in overseas markets has grown to the point where it is close to the domestic spot market. The trading volume of SK Hynix perpetual futures has exceeded 50% of the trading volume of the Korea Exchange (KRX) spot market since mid-July, and there were days at the end of July when it was similar to or surpassed the domestic spot trading volume.

Kim noted that the simultaneous increase in trading volume and open interest indicates that "the demand for directional betting based on leverage and the hedging demand of those holding SK Hynix stocks have expanded together," and analyzed that "there is a high possibility that the price of SK Hynix will be formed first in the global perpetual futures market."

A phenomenon was also confirmed where prices formed overseas move ahead of the domestic stock market. According to Eugene Investment & Securities, the correlation coefficient between the price fluctuations of SK Hynix perpetual futures traded on Hyperliquid after the closure of the domestic regular market and the opening price fluctuations of KRX on the next trading day was 0.98. During the 35 trading days of the analysis period, the direction of price movements matched on 33 trading days.

Kim stated, "The price fluctuations formed on Hyperliquid after the closure of the regular market precede the opening price of SK Hynix listed in the domestic market on the next trading day," and added, "It is likely to develop into a new supply and demand variable for the domestic market in the future."

Kim proposed tokenization as a way to connect the already formed demand for K-stocks overseas with the domestic capital market. This idea moves away from the existing method of attracting overseas investors into the domestic market and instead aims to distribute K-assets themselves as financial infrastructure utilized by global investors.

He emphasized, "Rather than simple prohibitions, it is necessary to consider ways to distribute the ownership and economic rights of K-stocks through a more diverse global financial infrastructure."

He also believes that the internationalization of the Korean won and the global distribution strategy of K-assets should be pursued simultaneously. Kim stated that policies to enhance the accessibility of the Korean won, such as 24-hour trading in the foreign exchange market and offshore won settlement infrastructure, are needed, along with a strategy to bring K-assets to where global investors are. This aims to expand the distribution channels of K-assets, starting with overseas institutional investors and eventually including digital wallets.

Specifically, he suggested verifying a global digital distribution structure connected to actual spot transactions, targeting representative KOSPI stocks or K-semiconductor exchange-traded funds (ETFs), primarily focusing on overseas institutional investors. After that, the issuance, redemption, and dividends will be connected to the offshore won settlement network and the foreign exchange market, and once relevant systems are established, there will be a phased plan to expand payment methods to include deposit tokens or won stablecoins.

However, he pointed out that tokenization itself does not directly supply new funds to companies. When existing stocks or tokens are traded in the market, the trading volume goes to the seller, while new funding for companies is achieved through issuing new shares or bonds.

Kim emphasized, "Tokenization does not create new capital, but rather reduces the friction of connecting capital." He explained that by lowering the barriers to access existing markets, such as trading hours, countries, accounts, and payments through tokenization, it can broaden the base of global investors and ultimately improve the conditions for issuing and funding K-assets.

Finally, Kim cited the example of the United States, stating that tokenization is being utilized as a means to expand the global distribution network of assets beyond just a simple trading technology.

He stated, "If AI creates demand for capital, tokenization can be seen as a technology that allows that capital to be distributed globally," emphasizing that tokenization is "an approach aimed at changing the structure in which goods and money actually move and are recorded."

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.