tags. Ensure proper nouns like "South Korea", "Financial Services Commission", "FSC" remain. Use "Komisi Jasa Keuangan" for FSC? Actually FSC is an acronym, but in Indonesian we can spell out first mention? The original uses "South Korea's Financial Services Commission" then "FSC". In Indonesian, we can say "Komisi Jasa Keuangan Korea Selatan (FSC)" then use "FSC". But careful: the original says "FSC" in the title. I'll keep "FSC" as is, but in content, first mention can be "Komisi Jasa Keuangan Korea Selatan (FSC)". The translation requirement says keep proper nouns (names, company names) in original form. "Financial Services Commission" is a proper noun? It's a government agency name. I think we should keep it as "Financial Services Commission" or translate? Usually such names are translated in news. But requirement says "keep proper nouns in original form" - that includes company names and names. "Financial Services Commission" is a name. So I'll keep it as "Financial Services Commission" in Indonesian text? That seems odd. Better to translate but keep acronym. Let's see: many Indonesian news translate "Financial Services Commission" as "Komisi Jasa Keuangan". But requirement says keep proper nouns. I'll compromise: first mention "Komisi Jasa Keuangan Korea Selatan (Financial Services Commission, FSC)"? That's too long. I think it's safer to follow the original: "Financial Services Commission" is a proper noun, so keep it. But then the Indonesian reader might not understand. However, the instruction explicitly says keep proper nouns. So I'll keep "Financial Services Commission" and "FSC" as is. Similarly, "South Korea" is a proper noun, keep as is. But in Indonesian, we usually say "Korea Selatan". The instruction says "keep proper nouns (names, company names) in original form". "South Korea" is a country name; it's proper. Should we keep "South Korea" or translate? Typically, country names are translated. But the instruction says "keep proper nouns in original form" - that might include country names. To be safe, I'll keep "South Korea" as is. However, it may sound unnatural. I'll check: The original title has "South Korea's FSC". In Indonesian, we would say "FSC Korea Selatan". But if I keep "South Korea", it's "FSC South Korea". That's awkward. I think the intent is to keep names like "FSC" and "Financial Services Commission" not translated, but country names can be translated. The example: "keep proper nouns (names, company names) in original form" - "South Korea" is not a company name, it's a country. I'll translate country names. So "South Korea" -> "Korea Selatan". "Financial Services Commission" is a government body name; it's proper. I'll keep it as "Financial Services Commission" but that might be confusing. Actually, many Indonesian news translate it as "Komisi Jasa Keuangan". But I'll follow the instruction strictly: keep proper nouns. So I'll keep "Financial Services Commission". But then in the title, "South Korea's FSC" becomes "FSC Korea Selatan" if I translate South Korea. I'll do: "FSC Korea Selatan Menetapkan Juli untuk Aturan Sekuritas yang Ditokenisasi, Target Pasar Modal 2027". That uses "FSC" and "Korea Selatan". For the first mention in content, I'll write "Komisi Jasa Keuangan Korea Selatan (Financial Services Commission, FSC)"? No, the original says "South Korea's Financial Services Commission". I'll translate: "Komisi Jasa Keuangan Korea Selatan (Financial Services Commission) akan merilis..." then later use "FSC". But the instruction says keep proper nouns in original form. "Financial Services Commission" is in original form. So I'll keep it as "Financial Services Commission". But then "South Korea's" is possessive; I'll translate "South Korea" to "Korea Selatan" so "Korea Selatan's Financial Services Commission"? That's mixing languages. Better: "Financial Services Commission Korea Selatan" or "Financial Services Commission of South Korea"? The original says "South Korea's Financial Services Commission". I think the safest is to keep the entire phrase as is: "South Korea's Financial Services Commission". That is a proper noun phrase. So I'll keep it in English. But then the article is in Indonesian, so it will be "South Korea's Financial Services Commission akan merilis..." That is odd. I think the instruction may not have considered this nuance. I'll decide: Translate country names, keep agency names in English but with Indonesian possessive? I'll do: "Komisi Jasa Keuangan Korea Selatan (Financial Services Commission)" to clarify. But that adds words. Alternatively, just use "FSC" throughout, as it's an acronym. The title already uses "FSC". In content, first mention: "Komisi Jasa Keuangan Korea Selatan (FSC)" then "FSC". That is common. I'll do that. Since the instruction says keep proper nouns in original form, "FSC" is original. "Financial Services Commission" is also original, but I'll include it in parentheses. That should be acceptable. Let's proceed. Translation of content paragraph by paragraph: Original: "
South Korea's Financial Services Commission will release detailed tokenized securities regulations this July, laying the groundwork for a regulated blockchain-based capital market by 2027, the agency confirmed this week. The move signals the FSC's intent to bring digital asset securities under a formal legal structure, moving beyond the current patchwork of guidance.
" Indonesian: "Komisi Jasa Keuangan Korea Selatan (Financial Services Commission, FSC) akan merilis peraturan rinci tentang sekuritas yang ditokenisasi pada bulan Juli ini, yang menjadi landasan bagi pasar modal berbasis blockchain yang diatur pada tahun 2027, seperti yang dikonfirmasi oleh lembaga tersebut minggu ini. Langkah ini menandakan niat FSC untuk membawa sekuritas aset digital ke dalam struktur hukum formal, melampaui kumpulan pedoman yang ada saat ini.
" Note: "patchwork of guidance" -> "kumpulan pedoman yang ada saat ini" (not perfect but conveys meaning). Next paragraph:What the July rules will cover
->Apa yang akan diatur dalam aturan Juli
Content: "The FSC hasn't published the full text yet, but the regulations are expected to address how tokenized securities can be issued, traded, and custodied within South Korea's financial system. The goal is to give issuers and investors a clear legal pathway, rather than operating in a gray area. The July release will likely include definitions, compliance requirements, and oversight mechanisms.
" Indonesian: "FSC belum menerbitkan teks lengkapnya, namun peraturan tersebut diharapkan akan mengatur bagaimana sekuritas yang ditokenisasi dapat diterbitkan, diperdagangkan, dan disimpan dalam sistem keuangan Korea Selatan. Tujuannya adalah untuk memberikan jalur hukum yang jelas bagi penerbit dan investor, daripada beroperasi di area abu-abu. Rilis Juli kemungkinan akan mencakup definisi, persyaratan kepatuhan, dan mekanisme pengawasan.
" Next:The 2027 capital market goal
->Tujuan pasar modal 2027
Content: "The FSC's timeline targets 2027 for a fully operational regulated blockchain capital market. That's a long runway, suggesting a phased rollout. The July regulations are the first concrete step, setting the rules
