Taxes · KOR
Taxes in South Korea
South Korea has repeatedly delayed its crypto tax regime, with the 22% gains tax on crypto profits above KRW 2.5 million now postponed until January 1, 2027. Until that date, individual crypto gains remain effectively untaxed at the capital gains level. Crypto income such as mining and staking rewards may still be treated as other income subject to tax above the annual threshold.
Income tax
Crypto income from mining, staking, and airdrops is classified as other income (gita sodeuk) and subject to a 20% withholding rate (22% including local tax) above the KRW 2.5 million annual threshold. Standard income tax rates may apply depending on total income.
VAT / GST
Exempt. The purchase and sale of cryptocurrencies by individuals is not subject to VAT in South Korea, consistent with the treatment of financial instruments.
Capital gains
As of January 2026, a 20% flat tax (plus 2% local income tax, totaling 22%) applies to crypto gains exceeding KRW 2.5 million per year. Implementation was delayed multiple times and was scheduled to take effect January 1, 2025, but was again postponed to January 1, 2027.
Type case, not tax advice: figures describe a single average earner and standard rates; your situation depends on residency, deductions and local rules. Verify with the tax authority before acting. — Fiatmap