The National Tax Service of South Korea plans to select private virtual asset custodians in the first half of this year.

Techub News reports, according to ZDNet Korea, the National Tax Service (NTS) of South Korea plans to select a private virtual asset custody service provider as early as the first half of this year to manage the virtual assets it has seized. This move is a follow-up response to the virtual asset theft incident that occurred last month. On February 26, the NTS accidentally leaked a mnemonic phrase while releasing materials on the results of on-site searches of delinquent taxpayers, leading to the theft of the seized virtual assets twice. When selecting the service provider, the NTS will focus on reviewing security requirements, company scale, and whether the provider is insured under the "Virtual Asset User Protection Act." Currently, this task is handled by the "Virtual Asset Management System Advancement Task Force (TF)" established on March 11. Additionally, the NTS plans to consult with the Ministry of the Interior and Safety to establish a dedicated "Digital Asset Comprehensive Division" to integrate the management of the entire process of virtual assets, from seizure and custody to sale.