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Crypto

Need domestic exchange incentives, auto-reporting before digital asset taxation begins

South Korea should prepare incentives to encourage use of domestic digital asset exchanges and build an automated calculation and reporting system linked to exchanges before digital asset income taxation begins in January, a report said. Areas such as overseas exchanges, private wallets and over-the-counter trading remain hard for tax authorities to track, it said. The National Assembly Budget Office also called for clearer taxation standards by transaction type and measures to encourage voluntary reporting.

AI & Enterprise

South Korea seeks public ideas for branding AI skills policy

South Korea will select a public-facing brand for its policy to strengthen AI capabilities through a nationwide idea contest. The Ministry of Science and ICT said it will run the competition for 14 days through Sept. 30 to choose a name and slogan. Entries will be narrowed to five candidates after expert review, followed by an online public vote. Total prize money is 4.5 million won, and the final brand will be used across ministries.

Crypto

Cautious on financial investment income tax, presses ahead with digital asset tax as equity dispute lingers

The government is holding to its plan to impose tax on digital asset income from 2027 while taking a cautious stance on introducing the financial investment income tax, keeping alive an equity dispute with listed stocks. The industry says preparation is lacking, including verification of acquisition costs and tax standards by transaction type, and calls for a review of the timeline. Analysts and industry groups also raise issues such as loss carryforwards, data links and overseas trading information.