The Ministry of Economy and Finance has officially confirmed that South Korea will begin taxing virtual assets starting January 2027.
Key Takeaways:
Moon Kyung-ho of the Finance Ministry confirmed virtual asset taxation will begin on Jan. 1 next year.Over 13.26 million investors face a 22% tax on virtual asset gains exceeding 2.5 million won.The NTS is drafting final notices, with major exchanges like Upbit and Bithumb to be released in 2026.“We will proceed with virtual asset taxation as scheduled in January next year,” Moon said during the forum, which was hosted by Rep. Park Soo-young of the People Power Party and the Korea Tax Policy Association.
The policy is expected to impact a massive base of retail investors. Government data indicates there are roughly 13.26 million virtual asset investors in the country, a figure based on cumulative membership at Upbit, South Korea’s largest exchange, as of last December.
Moon noted that the National Tax Service (NTS) is currently finalizing the technical framework for tax collection.
“The National Tax Service is currently preparing a relevant notice,” Moon said. “They are coordinating at a practical level by holding several meetings with the five major virtual asset operators—Dunamu, Bithumb, Coinone, Korbit, and Gopax—to prepare the draft.”
While Moon initially told forum attendees the notice would be disclosed “soon,” he later clarified his remarks to reporters to avoid suggesting an immediate release.
“The expression ‘soon’ could be misunderstood as if it would be released tomorrow or the day after,” Moon said. “The National Tax Service notice is scheduled to take effect sometime this year.”
