South Korea Opposition Seeks Delay or Repeal of January 2027 Crypto Tax
The People Power Party also urged a review of the proposed Future Response Fund, which would use excess tax revenue.
South Korea’s largest opposition party is urging the government to delay or repeal a virtual-asset tax system scheduled for January 2027, warning forced taxation could drive capital to Hong Kong, Singapore and other locations.
People Power Party floor leader 郑点植 also called for a review of plans to establish a “Future Response Fund” financed through excess tax revenue.
郑 said excess tax revenue is temporary, while government spending becomes difficult to reduce once expanded. He argued that reducing the public’s tax burden should take priority.
He said implementing the virtual-asset tax could send capital to Hong Kong, Singapore and other locations. The tax is scheduled to take effect in January 2027.
