South Korea forum calls for new crypto tax system ahead of 2027 rollout

Concerns over consistency and tax fairness in South Korea’s planned virtual asset taxation regime, set to take effect next year, point to the need for a tax framework tailored to the characteristics of crypto assets, The Asia Business Daily reported. Speaking at a forum on reviewing the 2027 virtual asset tax system held at the National Assembly at 1:00 a.m. UTC today and hosted by the office of Democratic Party lawmaker Moon Jin-seok, Park Jong-soo, head of the Korea Tax Law Association, said crypto assets should be assessed not as a single asset class but by separating them according to their transaction functions. The forum also raised questions about fairness relative to stocks. Participants said virtual assets and equities differ in their legal nature and investor protection frameworks, and therefore do not necessarily need to be treated in the same way.