South Korea's Deputy Prime Minister candidate: The tax burden on virtual assets is limited, and the market impact is expected to be small

According to Digital Assets, South Korea's Deputy Prime Minister and Finance Minister nominee Lee Hyeong-jin stated at a parliamentary hearing that taxing virtual assets poses a relatively small burden for most investors and is not expected to have a significant impact on the market.

Data shows that about 95% of investors hold assets of less than 5 million Korean Won; when the acquisition cost cannot be proven, 50% of the income can be considered necessary expenses, plus a basic deduction of 2.5 million Korean Won, resulting in a limited actual tax burden for small investors.