POSCO International and LG CNS have launched a pilot on the Injective blockchain to tokenize real trade accounts receivable using live data from overseas subsidiaries. The project is described as one of South Korea's most advanced real-world asset (RWA) tokenization initiatives.
What the pilot involves
The two South Korean firms are putting trade accounts receivable — money owed to a company for goods shipped but not yet paid for — onto a blockchain. The pilot draws live data from overseas subsidiaries, meaning the tokenized assets reflect actual, current trade flows rather than historical or simulated data. That's a step beyond many proof-of-concept projects that still rely on manual inputs or stale records.
Tokenizing receivables could let companies sell those claims more easily, freeing up working capital. But the pilot is still early; it's not yet a full production system.
Why Injective
The companies chose Injective, a blockchain platform that supports smart contracts and cross-chain interoperability. Injective has positioned itself for RWA use cases, though the pilot is one of the more concrete examples to date from a major industrial conglomerate. POSCO International is the trading and energy arm of POSCO Group, one of South Korea's largest steelmakers. LG CNS is the IT services unit of LG Group.
South Korea's RWA push
South Korea has been cautiously exploring tokenized securities and real-world assets. Regulators have allowed sandbox projects, and several large firms have tested blockchain for supply chain finance. This pilot stands out because it uses live operational data from actual subsidiaries — not a test environment. That makes it one of the country's most advanced RWA initiatives, according to the companies.
The timing isn't accidental. Global interest in tokenizing traditional assets has surged this year, with banks and corporations looking for faster settlement and lower costs. South Korean firms are trying to keep pace.
The pilot is ongoing. Neither POSCO International nor LG CNS has announced a timeline for expanding the project to more subsidiaries or moving to a full commercial rollout. Whether the pilot will scale beyond the initial test remains an open question — but for now, it's a rare look at real trade data running on a public blockchain.
