South Korean Deputy Prime Minister: Virtual Asset Income Tax Postponed to 2029

on November 5, according to Yonhap News Agency, South Korean Deputy Prime Minister and Minister of Economy and Finance Lee Hang-sik said on November 5 that the government has decided to delay the collection of virtual asset income tax for two years until 2029, stating that it will "further expand infrastructure capable of effectively taxing overseas transactions." At a briefing held at the government's Seoul office building, Lee added that if virtual asset trading information can be obtained from the United States after 2029, there will be sufficient information to tax investors utilizing US exchanges. He also noted that a joint official-public working group for digital asset taxation will be established and operated to rationalize the tax regime, expand taxation infrastructure, and expedite the legislative process for the Digital Asset Act.