Overseas Financial Account Declarations Surge by 46% Due to Virtual Asset Boom

This year, the amount reported for overseas financial accounts has surged. It is analyzed that the main reason for this surge is the increase in the value of virtual assets (cryptocurrencies).

According to the industry on the 26th (Korean time), the declared amount of overseas stock accounts this year was tallied at ₩94.5 trillion, up 45.6% from the previous year. This is based on the '2025 Overseas Financial Account Declaration Results' announced by the National Tax Service.

Since the introduction of the overseas financial account declaration system in 2011, this is the second-largest figure, following ₩186.4 trillion in 2023.

The number of filers reached an all-time high at 6,858 people, which is an increase of 38.3% compared to the previous year.

Those subject to the overseas financial account reporting requirement are domestic residents or corporations whose balance in overseas financial accounts exceeded ₩500 million at the end of any month from January to December of last year, even for just one day.

The accounts subject to reporting include deposits, savings, stocks, derivatives, bonds, collective investment securities, insurance, and virtual assets.

The declared amount for virtual assets was ₩11.1 trillion, ranking third after stocks and deposits/savings.

The National Tax Service explained these results by saying, "The number of filers increased due to the rise in the value of virtual assets," and added, "The sharp increase in declared stock account amounts also contributed to the growth."