South Korean government: Personal wallets and virtual asset gains from overseas exchanges will also be taxed

According to Digital Asset, the South Korean government stated that digital assets held by residents through personal wallets or overseas exchanges, as long as they generate income from transfers or lending, are generally subject to taxation.

The digital asset tax will be implemented starting January 1, 2027, taxed as other income, with a deduction of 2.5 million won and a tax rate of 20%, including local taxes up to a maximum of 22%.