South Korea's Deputy Prime Minister Responds to Reconsideration of Virtual Asset Taxation in 2027: Prudent Policy Evaluation and Extensive Consultation

Odaily News: South Korea's Deputy Prime Minister and Minister of Economy and Finance Lee Hyung-il stated that regarding the virtual asset taxation policy planned for implementation in 2027, various opinions raised by the National Assembly, as well as those from experts, industry participants, and relevant stakeholders, will be extensively collected. South Korean lawmaker Kim Sang-hoon questioned that months before the implementation of virtual asset taxation, the relevant infrastructure remains incomplete, including insufficient capabilities for tracking and verifying transaction records on overseas exchanges, DEX, DeFi, and other platforms.

Regarding the estimated tax revenue from virtual asset taxation, Lee Hyung-il stated that there are indeed "parts that are difficult to accurately grasp," and since taxation requires obtaining tax filing data first, further tax revenue estimates can only be made after the relevant filing system is launched next year, with prudent evaluation of related policies. (chosun)