South Korean press says the Presidential Office is set to delay the 22% crypto tax by two years, but an official says nothing is decided

South Korea's Presidential Office is set to postpone the country's crypto gains tax by two years, the Seoul Economic Daily reported on October 25, although a Presidential Office official told the paper that nothing has been decided. The tax was due to take effect in early 2027.

The paper said the office discussed a delay, citing insufficient preparation for collecting the tax, public opinion among young adults, and the United States joining the OECD's Crypto-Asset Reporting Framework in 2029. It added that if US participation slips, the tax could fall unevenly on people who use domestic exchanges.

As the law is written, annual profits above a 2.5 million won allowance, about $1,900, would be taxed at 22% including local income tax, with the first filing due in May 2028, the Korea Times reported on October 21. A delay would be the fourth since the tax was announced in 2020; the start has already moved from 2022 to 2023, then 2025, then 2027. A Democratic Party lawmaker has filed a bill that would effectively push it to 2029.

Any change needs the National Assembly. Its tax subcommittee is due to open on November 2 to review the government's 2026 tax revision bill, Seoul Economic Daily reported.