South Korea's ruling party formally proposes fourth delay of crypto income tax, now set for 2027

Democratic Party leader Kim Min-seok announced the proposal at a party supreme council meeting at the National Assembly, following consultations with the Strategy and Finance Committee, government-party talks, and crypto asset businesses. He said the country should first enact the Digital Asset Basic Act and give companies and investors time to adapt. The tax, scheduled for Jan. 1, 2027, would impose a 22% levy (including local tax) on annual gains above a 2.5 million won ($1,868.7) deduction. Kim said the party would set a clear deferral period while preparing prerequisites such as overseas transaction data use and IT system verification. The presidential office was reportedly weighing postponement until 2029 to align with the U.S. OECD reporting timeline.

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