South Korea’s crypto tax could face a fourth delay after lawmaker Jung Sung-kook filed a bill on August 10 to push the levy’s start date from January 1, 2027, to January 1, 2030, according to MBN. Jung, a member of the opposition People Power Party, said the extra three years would give regulators time to build investor protections and a working tax administration system before the tax takes effect.
The bill adds a third legislative track to South Korea’s fight over crypto taxation, alongside a separate repeal bill and a petition that are both already stuck in the same National Assembly subcommittee.
Why Jung Wants a Three-Year Runway
Under the current Income Tax Act, gains from transferring or lending digital assets above 2.5 million won, about $1,740, face a 20% national tax plus a 2% local tax once the rule takes effect, according to the National Tax Service.
That threshold and rate have held through three earlier postponements since the tax was first scheduled for January 2022. Jung previously sponsored South Korea’s first crypto ETF bill, and his office told MBN the delay is meant to reduce market confusion by giving lawmakers time to finish investor protection rules before enforcement begins.
Song’s Repeal Bill Is Already Ahead in Committee
The proposal adds to a monthslong fight that has produced a steady stream of crypto news out of Seoul this year, including the Financial Services Commission’s planned Digital Asset Basic Act and a separate repeal bill from Jung’s own party colleague, Song Eon-seok.
Song’s bill, filed in March, would delete the tax provision outright rather than delay it, and it has sat in the Finance and Economic Planning Committee’s tax subcommittee since a July 29 hearing. A public petition seeking repeal has drawn more than 50,000 signatures.
The dispute over treating crypto income differently than stock gains mirrors the fairness argument behind the Digital Asset PARITY Act in the US, which also sought to align digital asset taxation with the rules already applied to stocks and other securities.
Two Bills, One Unscheduled Subcommittee
Jung’s bill is expected to be referred to the same tax subcommittee already reviewing Song’s repeal proposal, but MBN reported that neither the subcommittee’s membership nor a review date has been finalized.
That leaves South Korea’s crypto tax question unresolved for now, with the government and ruling Democratic Party still backing the 2027 start and the opposition split between delaying it and scrapping it outright.
What this means for you: If Jung’s bill becomes law, investors would get three more years before crypto gains above the 2.5 million won threshold face the 22% combined tax. Nothing has changed yet. South Korea’s Finance Ministry reaffirmed on August 3 that the original January 1, 2027 start date still stands, and neither Jung’s bill nor Song’s repeal bill has a scheduled committee review.
