South Korean Vice Prime Minister Candidate Says Tax Burden on Virtual Assets is Limited

The candidate for South Korea's Vice Prime Minister and Minister of Economy and Finance, Lee Hyung-hee, stated that the tax burden on virtual assets is relatively small for most investors and is not expected to have a significant impact on the market. Data shows that approximately 95% of investors hold assets worth less than 5 million KRW; in cases where the acquisition cost cannot be proven, 50% of the income can be considered necessary expenses, along with a basic deduction of 2.5 million KRW, resulting in a limited actual tax burden for small investors.

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