South Korean Official: Virtual Asset Tax Should Be Enforced on Schedule Starting in January 2027

BlockBeats News, May 18th. Jeong Tae-ho, the Secretary-General of the Democratic Party of the Finance and Economy Planning Committee of the South Korean National Assembly, stated, "The taxation of virtual assets (digital assets) has already been postponed once, so it should be implemented as planned." After the submission of the Virtual Asset Taxation System Reform Bill, internal party discussions will be initiated, and feedback on system improvement will be sought, in line with the direction of the South Korean government to "regularly tax virtual asset transfers and leases from January 2027."

Recently, many key figures within the South Korean Democratic Party have also successively sent out similar signals, forming a confrontation with the opposition People Power Party (which advocates for the abolition of taxation and has already submitted a bill). It is expected that the relevant bill will enter formal discussions in the tax subcommittee after November this year, and the final conclusion will be announced by the end of the year.