Political parties tentatively agree on taxes on digital assets in 2029

The ruling and opposition parties in South Korea have reportedly reached a tentative consensus on introducing taxes on digital assets, aiming to delay their implementation by two years, according to a lawmaker from the ruling Democratic Party of Korea. A subcommittee of the National Assembly's finance and economy committee, comprising lawmakers from both main parties, has reportedly agreed on the matter.

While the exact specifics of the bill have yet to be finalized, the parliamentarians are reportedly discussing necessary procedural matters. Finance Minister Lee Hyoung-il had previously announced last week that the government intends to postpone a planned tax on digital assets from 2027 to 2029.