South Korea opens reporting period for 2025 overseas accounts

The reporting period for South Koreans to declare overseas financial accounts held in 2025 begins today, Etoday reported. Individuals are required to report in June if the total balance of their overseas accounts exceeded 500 million won (approximately $362,000) on the last day of any month during the previous year. The declaration is based on the account balance itself, not on any capital gains from trading virtual assets.