EBN reported that if virtual asset taxation is implemented starting next year, it is expected to have a significant impact on wealthy individuals in their middle to senior years. The media explained, "This taxation is expected to have a significant impact on wealthy individuals in their middle to senior years. This is because, according to financial authorities' statistics, those aged 50 and over account for approximately 59% (3,994 people in their 50s, 2,426 people in their 60s and older) of high-value virtual asset holders with over 1 billion won. This shows that virtual assets have spread beyond a speculative tool for the younger generation to become a key asset management tool for the 5060 generation." As the proposal to postpone virtual asset taxation was excluded from the government's tax reform plan, there is a growing possibility that a 22% tax, including local taxes, will be imposed on virtual asset income exceeding 2.5 million won per year starting next year.
