As scheduled for implementation in 2027, South Korea's digital asset tax will apply a 20% rate to transaction income exceeding 2.5 million won

Odaily Planet Daily News: South Korea's Deputy Prime Minister and Minister of Economy and Finance, Koo Yun-cheol, stated at a plenary session of the National Assembly's Finance and Economy Planning Committee that the digital asset tax will be implemented as planned on January 1, 2027, and the system can be supplemented and improved if necessary afterward. According to the current Income Tax Act, a 20% tax rate will apply to the portion of digital asset transaction income exceeding 2.5 million won, with a maximum of 22% including local taxes. The tax was originally scheduled for implementation in 2022 but has been postponed three times due to insufficient infrastructure and other reasons. In response to concerns raised by People Power Party lawmaker Kim Sang-hoon that the non-application of loss carryforward deductions could lead to a decline in domestic demand and capital outflows, Koo stated that stock investments are also not eligible for loss carryforwards, and the system can be reviewed and improved at any time after taxation begins.