Virtual Asset Income Taxation Proposed to Be Delayed to 2030, Korean Lawmaker Jeong Seong-guk Plans Bill

Odaily News: Jeong Seong-guk, a lawmaker from the People Power Party in South Korea, plans to propose a bill to postpone the implementation date of virtual asset income taxation from January 1, 2027, to January 1, 2030. Under current regulations, income generated from the transfer or lending of virtual assets is classified as "other income" and subject to income tax, with a 22% tax rate applied to the portion of annual profits exceeding 2.5 million KRW, which includes 20% other income tax and 2% local income tax.