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Finance

Second public participation National Growth Fund sales begin, raising 600 billion won

Sales of the second public participation National Growth Fund open on Sept. 30, allowing retail investors to invest in the government’s National Growth Fund programme. The fund will raise 600 billion won and invest in future advanced industries such as AI, semiconductors, energy and biotech. Asset managers including Mirae Asset, KB and Samsung have begun fundraising, while brokerages opened dedicated savings accounts and started sales. The product includes a loss-buffer structure and tax benefits tied to holding requirements.

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.

Crypto

Digital asset taxation four months away, calls to redesign blanket other-income classification

With digital asset taxation set to begin next year, a proposal has emerged to revise the current system that classifies both transfer and lending income as other income. Speakers at a National Assembly forum said income categories should reflect the economic substance of different transaction types, including trading, mining and staking. They also called for stronger enforcement infrastructure, including linking transaction data across domestic and overseas exchanges and personal wallets.