Youth backlash grows as gov't pushes ahead with crypto tax plan

The government is set to impose a tax on digital assets starting January 1, which has sparked growing opposition from retail investors, particularly young voters, ahead of the 2028 general elections. Market observers say the sentiment is fueled by a sense that the tax policy is unfair. Economic challenges have been a major source of frustration for young people, who have already expressed discontent over other measures by the Lee Jae Myung administration, such as housing, savings, and investment policies.

The DPK government maintains that the crypto taxation will be implemented once the current grace period ends. According to the proposed framework, gains from trading or lending virtual assets above 2.5 million won ($1,810) per year would be subject to a 22 percent tax rate. One respondent, a 33-year-old office worker from Guri, Gyeonggi Province, acknowledged the principle of taxing income as it is generated but criticized the move as premature due to unresolved details, particularly in light of the government's recent withdrawal of the stock capital gauge.