According to the Korean newspaper Chosun Ilbo, the South Korean National Tax Agency is accelerating preparations for the 2027 virtual asset taxation, including the establishment of a new digital asset comprehensive department and the construction of a virtual asset comprehensive analysis system. The 50000 person joint petition in Congress to abolish the virtual asset tax has not yet been put on the agenda, and discussions are stalled. The current tax system stipulates that virtual asset investment income is subject to a 22% tax after deducting 2.5 million Korean won, and virtual asset losses cannot be offset across years. The relevant discussions are expected to advance after the government's tax reform plan is announced at the end of July.
