Lucent Block CEO Testifies at Audit Over License Exclusion
Heo Se-young told the National Assembly audit that Lucent Block was excluded from a tokenized asset distribution license despite over 100 billion won invested.
Heo Se-young, CEO of Lucent Block, appeared as a witness at the National Assembly's Political Affairs Committee audit of the Financial Services Commission on October 8, 2026, and testified that his company was excluded from a tokenized asset distribution license.
Heo said Lucent Block applied for a formal license under Article 21 of the Financial Innovation Support Special Act but was left out. He added that over 100 billion won has been invested in the fractional investment sector, including policy funds.
Lee Eok-won, chairman of the Financial Services Commission, responded that procedures were not disadvantageous to startups and that the sandbox allowed fractional investment issuance while the pending license concerns distribution.
Rep. Cho Jung-hoon of the People Power Party criticized the exclusion of sandbox-tested firms while licenses were granted to the Korea Exchange and Nextrade, according to byline.network.
Background
In April 2021, Lucent Block received designation as an innovative financial service for blockchain-based distribution of fractional investments. In May 2025, regulatory impact analysis and regulatory reform committee documents defined Lucent Block as a business group subject to future regulations.
Quick answers
When did Heo Se-young testify at the National Assembly audit?
Heo Se-young testified on October 8, 2026, at the Political Affairs Committee audit of the Financial Services Commission.
What license was Lucent Block excluded from?
Lucent Block was excluded from a tokenized asset distribution license under Article 21 of the Financial Innovation Support Special Act.
How much has been invested in the fractional investment sector?
Heo Se-young said over 100 billion won has been invested, including policy funds.