South Korea’s People Power Party to Announce Crypto Tax Stance After Aug. 27 Workshop

South Korea’s People Power Party said it will announce a detailed position on virtual-asset, or digital-asset, taxation after discussing the issue and related policies at a party workshop on Aug. 27.

Jang Dong-hyuk, the party’s leader, made the remarks at a news conference in Seoul on Aug. 26 marking his first year in office. Asked how the party would respond to the planned rollout of a tax on digital-asset income, he said it would present its broader digital-asset policy direction after the workshop.

Jang said the party had not responded clearly enough to digital-asset policies pursued by the government and the ruling camp. While the People Power Party had its own position on digital assets, it had failed to clearly counter policies pushed by the Democratic Party and the Lee Jae-myung administration, he said.

He also said the appointment of Rep. Lim Yi-ja as chair of the party’s policy committee would help accelerate discussions on digital-asset taxation and youth policy. The policy committee will move quickly to support work on youth issues, including digital-asset taxes, he said. Jang added that each standing committee would likely hold in-depth discussions on related matters at the Aug. 27 workshop.

The government plans to begin taxing income from digital assets on Jan. 1, 2027. While the Democratic Party has shown no clear opposition to the plan, the People Power Party has said the tax should either be scrapped or delayed again.

The Aug. 27 workshop is set to cover the party’s digital-asset policy direction, including whether it will maintain its previous stance calling for the tax to be abolished or postponed ahead of its planned implementation next year.