Key South Korean lawmaker urges virtual asset taxation to begin in 2027 as planned

Jin Sung-joon, a Democratic Party lawmaker and chairman of the National Assembly's Special Committee on Budget and Accounts, has reiterated his position that virtual assets should be taxed starting in 2027 as scheduled, Digital Asset reported. Jin is a prominent advocate for implementing the tax. During a May 4 appearance on the MTN News program "Yeouido Crossroads," he affirmed his support for proceeding with the tax plan. This follows his previous calls for taxation at the end of 2024, when he served as the Democratic Party's policy committee chairman. At the time, Jin argued that it would be irresponsible to delay the tax again without a compelling reason and suggested raising the deduction limit to 50 million won to target large-scale asset holders.