Korean Government: Personal wallets and virtual asset earnings from overseas exchanges will also be taxed

Comparative news, according to the Digital Asset report, the South Korean government said that digital assets held by residents through personal wallets or overseas exchanges only generate income from transfers or loans; in principle, they are all subject to taxation.

The digital asset tax will be implemented on January 1, 2027. It will be levied on other income, with a deduction of 2.5 million won and a 20% tax rate, including local taxes of up to 22%.