South Korean Government: Virtual Asset Income from Personal Wallets and Overseas Exchanges Will Also Be Taxed
Source：
www.digitalasset.works
According to Digital Asset, the South Korean government stated that digital assets held by residents through personal wallets or overseas exchanges will, in principle, be subject to taxation if they generate income from transfers or lending. The digital asset tax will take effect on January 1, 2027, and will be classified as other income, subject to a 2.5 million won deduction and a 20% tax rate, with a maximum effective rate of 22% including local taxes.
