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South Korea to introduce taxes on digital assets in 2029
South Korea plans to begin taxing digital assets in 2029, two years later than previously scheduled. The finance ministry said the government will consult parliament on the delay, which is intended to avoid putting domestic markets at a disadvantage while international information exchanges on virtual assets are not yet in place.
Over the next two years, officials will prepare tax measures for overseas digital asset trading, taking account of market volatility, investor protection and industry growth. The government plans to submit legislative amendments in 2027 and publish details of the tax rules in the first half of 2028; information exchanges with the US are due to start in 2029.
In short
- South Korea’s digital asset tax plan moves to 2029.
- Officials cite the timing of information exchanges with the US.
- Tax rules are due to be detailed in the first half of 2028.
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
Delaying the tax until 2029 could give South Korea time to establish international information sharing and rules for overseas trading, making enforcement fairer and reducing opportunities to shift assets abroad. The extra preparation may also help officials account for market volatility, investor protection and the industry’s development before setting detailed rules.
The case against
A further delay could leave digital asset gains untaxed for longer and weaken the sense that similar forms of income are treated consistently. Clear taxation sooner might also give investors and businesses greater certainty, while encouraging the government to build enforcement and information-sharing arrangements without postponing the tax itself.