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Park Sang-hyuk

박상혁

Member of the National Assembly (Democratic Party)

South KoreaLawmaker

About

Park Sang-hyuk studied law at Hanyang University and holds a master's in trade law from Erasmus University in the Netherlands. He worked as a lawyer, including at the law firm Changjo, and was a legal adviser to the Seoul Metropolitan Council and a political aide to the Mayor of Seoul. He also served as an administrative officer in the Presidential Secretariat under President Moon Jae-in.

He represents Gimpo B in Gyeonggi Province and is in his second term, first elected in 2020. He sits on the National Policy Committee and has been the Democratic Party's secretary on the committee since July 2026. He is also a senior vice-chair of the party's Policy Committee and has served as its chief spokesperson.

On 24 November 2025 he sponsored the Act on Digital Asset Markets and Industry. The bill requires FSC authorisation for stablecoin issuers, with reserve and disclosure rules, splits digital asset businesses into licensed and registered categories, and would make digital assets eligible underlying assets for ETFs and exchange-traded derivatives. As the ruling party's committee secretary he is one of two possible sponsors of the combined government and party Digital Asset Basic Act, and has said it should pass by the end of 2026.

Policy engagement

Sponsored the Act on Digital Asset Markets and Industry (24 Nov 2025), covering stablecoin issuer authorisation, tiered licensing of digital asset businesses, and spot ETFs and derivatives.

Source: ZDNet Korea, 26 Nov 2025

Key actions

  1. Said at the Newsis crypto forum that the party aims to pass the second-stage Digital Asset Basic Act by the end of the year, warning that offshore won stablecoins were filling the regulatory gap.

    Source

  2. Told the News1 Blockchain Leaders Club that the Digital Asset Basic Act should be handled in the regular session and that consensus had been reached with the FSC.

    Source

  3. Named Democratic Party secretary of the National Policy Committee, the committee handling stablecoin legislation.

    Source

  4. Sponsored the Act on Digital Asset Markets and Industry, covering stablecoin issuer authorisation, tiered licensing and spot crypto ETFs.

    Source

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