South Korea considers imposing an education tax on crypto exchanges; Upbit expected to face a tax burden of approximately 10.2 billion won.

on October 27, according to the Seoul Economic Daily, the South Korean government is considering imposing an education tax on cryptocurrency exchanges once they are reclassified as financial enterprises. If the related Digital Assets Basic Act passes and leads to exchanges being categorized under the financial sector, Dunamu, operator of Upbit, and Bithumb are expected to face education tax liabilities of approximately 10.2 billion KRW and 3.2 billion KRW, respectively.

In an analysis of the 2025 operating and audit reports for South Korea’s five major cryptocurrency exchanges, the outlet noted that Dunamu and Bithumb posted operating revenues of roughly 1.52 trillion KRW and 651.3 billion KRW, respectively. Applying the current financial institution education tax rates, a taxable base up to 1 trillion KRW is subject to a 0.5% rate, with a 1% rate applied to the excess.

This tax estimate assumes that exchanges fall within the education tax scope and that transaction fees qualify for a VAT exemption. The actual tax burden will ultimately depend on the final industry classification, tax base determination, and relevant tax policy adjustments. The Korean crypto industry has called for a review of the existing financial institution education tax system, warning against directly applying traditional financial sector tax frameworks to crypto exchanges.