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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.

Finance

ISA revamp plan under review after reconsideration, compared with advanced financial countries

South Korea\'s government is reviewing whether to scrap or ease limits in its ISA revamp plan, including restrictions on rolling over unused contribution limits and maturity caps for a productive finance ISA. The move follows investor backlash and President Lee Jae-myung\'s order for a full reconsideration. The article compares practices in Japan, Britain and Canada, where tax-advantaged accounts allow long-term use, flexible withdrawals and rollover of unused limits.

Finance

Youth Future Savings applications begin, focus on young adults\' fund flows

Applications for the Youth Future Savings policy savings product began on Sunday, drawing attention to whether young adults\' money will extend beyond deposits and instalment savings into individual savings accounts (ISA) and domestic investment products. The product offers a 3-year fixed rate with maximum rates of 7 to 8 percent. Interest in ISA accounts is also rising, while overlap limits among youth-targeted products could affect demand.