PANews reported on November 25 that according to local Korean media Naver, Han Dong-hoon, leader of South Korea's ruling National Power Party, stressed the urgency of making a decision on virtual asset taxation at a parliamentary meeting on November 25. He advocated recognizing virtual assets as a legitimate means of accumulating wealth and a new hope for the younger generation, and opposed labeling their investments in cryptocurrencies and stocks as speculation. Han Dong-hoon emphasized the need for fair taxation and taking into account the interests of young people, which is the main reason why he supports postponing the planned cryptocurrency tax, noting that the current tax system is not yet equipped to handle these taxes.
Previously, South Korea’s main opposition Democratic Party proposed raising the cryptocurrency tax exemption limit from 2.5 million won ($1,795) to 50 million won ($35,900) instead of postponing taxation, with the Strategy and Finance Committee set to discuss the matter further on November 26.
