Chung Sung-kook, a lawmaker from South Korea's People Power Party, has put forward a proposal to delay the planned 22% cryptocurrency investment tax, moving the start date from January 2027 to 2030 instead. Under the proposal, the tax would apply to cryptocurrency transfers or lending income that exceeds 2.5 million won in a given year. The levy is designed as a 20% national tax plus a 2% local tax, making up the 22% rate. In the 2026 tax reform package finalized on August 3, South Korea's Ministry of Economy and Finance kept the 2027 implementation date unchanged. The lawmaker said postponing the new tax would give authorities more time to build investor protection mechanisms and the basic infrastructure required for fair tax collection. Alongside the delay proposal, other legislative bills seek a full repeal of the crypto income tax. The original report came from crypto.news and was relayed by Techub News.
Chung Sung-kook, a lawmaker from South Korea's People Power Party, has proposed moving the country's planned 22% cryptocurrency investment tax from January 2027 to 2030.
Under the proposal, the tax would apply to cryptocurrency transfers or lending income exceeding 2.5 million won a year. It is structured as a 20% national tax plus a 2% local tax, combining for the 22% rate.
South Korea's Ministry of Economy and Finance, in the 2026 tax reform package finalized on August 3, kept the 2027 implementation plan unchanged. The lawmaker argued that delaying the tax would give policymakers more time to establish investor protection mechanisms and the basic infrastructure needed for fair tax collection.
Separately, other legislative proposals seek to completely abolish the crypto income tax. The report was carried by Techub News, citing crypto.news.
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