Ruling Party’s Park Min-kyu Says 2027 Crypto Tax Rollout Is Premature, Warns of Confusion

Democratic Party lawmaker Park Min-kyu said next year’s virtual-asset taxation is premature, citing the absence of a basic law on digital assets and a lack of clear taxation standards.
Park said imposing the tax before CARF is fully operational could disadvantage users of domestic exchanges and create confusion for young investors, adding that building the institutional foundation for the digital-asset market should take priority over taxation.
While the People Power Party has adopted a delay and repeal of virtual-asset taxation as party policy and backs an Income Tax Act revision to delay the tax until 2030, the government said it will move ahead with full implementation from next year.

Forecast Trend Report by Period

Calls are growing within South Korea’s ruling Democratic Party to postpone taxation of virtual assets, or cryptocurrencies, which is scheduled to take effect in January 2027.

Park Min-kyu, a Democratic Party lawmaker on the National Assembly’s Political Affairs Committee, wrote in a Facebook post on Sept. 23 that it would be premature to begin taxation in January 2027 when even a basic law on digital assets has yet to be enacted.

Clear taxation standards and guidelines have yet to be prepared. Rules essential to taxation, including how to calculate acquisition costs, also remain unclear.

Ruling Party’s Park Min-kyu Says 2027 Crypto Tax Rollout Is Premature, Warns of Confusion

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