Korea presidential office moves to push crypto tax start toward 2029, Sedaily reports

South Korea's presidential office is moving to delay the country's virtual-asset income tax again, with 2029 the likely start under a pending bill, Seoul Economic Daily reported early Oct. 25 Korea time [2][3]. An unnamed presidential office official told the paper the discussion "has moved toward delaying implementation of the crypto tax" [2]. That is a reported direction of discussion, not an enacted statute.

What the tax is today

A 2020 Income Tax Act revision set a levy on income from transferring or lending virtual assets as other income [1]. Sedaily says that levy is a combined 22 percent (other income tax plus local income tax) on annual gains after a 2.5 million won basic deduction [2]. The start has been deferred three times and, under current law, is due Jan. 1, 2027 [1][2].

Bill No. 2220914

National Assembly bill No. 2220914, introduced Aug. 28, 2026 by Rep. Kim Sang-hoon and 11 co-sponsors, would move that start from Jan. 1, 2027 to Jan. 1, 2029 [1]. The National Participation Legislation Center page shows committee referral and, as of a Sept. 29, 2026 committee session, advance to proposal explanation, review report, substitute debate and subcommittee referral [1]. It is not yet law.

Still open, per Sedaily

Sedaily says the People Power Party also wants a delay and that an amendment is expected in the November tax review [2]. It says the presidential office is expected to hold a government-ruling party meeting after this month's parliamentary audit and then reach a "final conclusion" [2][3]. Until that meeting and until the Assembly amends the statute, Jan. 1, 2027 remains the legal start [1].

Sedaily reports the official and surrounding coverage cited incomplete collection preparations, young adults' views, and U.S. Crypto-Asset Reporting Framework participation only from 2029 [2][3].

What CARF is (brief)

CARF is the OECD Crypto-Asset Reporting Framework: rules under which tax authorities collect residence and transaction information from reporting crypto-asset service providers and exchange it automatically with other jurisdictions [4]. The OECD published the framework on June 8, 2023 [4]. Any one country's join date, including the United States, is not a Le Coin finding here; Sedaily's U.S.-from-2029 line is attributed to Sedaily [2].

Sources

1. National Assembly bill No. 2220914 (Rep. Kim Sang-hoon and 11 others, Aug. 28, 2026), National Participation Legislation Center detail page (proposal reason and main contents; National Assembly progress), https://opinion.lawmaking.go.kr/gcom/nsmLmSts/out/2220914/detailRP, accessed Oct. 25, 2026, 12:15 a.m. ET.
2. Jeon Hee-yoon, "Presidential Office Decides to Delay Crypto Tax Again," Seoul Economic Daily (English), published Oct. 25, 2026, 12:01:48 (KST), https://en.sedaily.com/politics/2026/10/25/presidential-office-decides-to-delay-crypto-tax-again, accessed Oct. 25, 2026, 12:15 a.m. ET.
3. Seoul Economic Daily (Korean), article 20105730 (same report), https://www.sedaily.com/article/20105730, accessed Oct. 25, 2026, 12:15 a.m. ET.
4. OECD, "International Standards for Automatic Exchange of Information in Tax Matters: Crypto-Asset Reporting Framework and 2023 update to the Common Reporting Standard," published June 8, 2023, https://www.oecd.org/en/publications/international-standards-for-automatic-exchange-of-information-in-tax-matters_896d79d1-en.html, accessed Oct. 25, 2026, 12:15 a.m. ET.

Holding the Corner.

Not financial advice.