South Korean Deputy Prime Minister Responds to Cautious Assessment of Virtual Asset Tax Policy for 2027

South Korean Deputy Prime Minister and Minister of Economy and Finance Lee Hyung-koo stated that he will widely collect opinions from the National Assembly, experts, industry professionals, and relevant stakeholders regarding the virtual asset tax policy to be implemented in 2027. Lawmaker Kim Sang-hoon questioned the adequacy of the infrastructure before the tax implementation, noting insufficient capabilities for tracking and verifying transaction records on overseas exchanges, DEX, and DeFi platforms. Lee Hyung-koo pointed out that there are aspects of the tax scale on virtual assets that are difficult to accurately grasp at present. Taxation requires obtaining taxpayer declaration data, and the relevant declaration system will be launched next year, at which point further tax estimates will be conducted, and the policy will be cautiously assessed.

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