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South Korea’s People Power Party said it will try to reach an agreement with the ruling Democratic Party on taxation of virtual assets, according to Digital Asset.
Speaking to reporters after a press conference at the National Assembly Communication Hall in Yeouido, Seoul on Oct. 21, Park Soo-young, deputy head of policy at the People Power Party, said the party would naturally seek consultations between the rival parties’ floor-level policy officials on the tax issue, but it was difficult to predict the outcome. Park said that was because the Democratic Party had not yet unified its position as party policy.
No agreement has been reached with the Democratic Party on digital asset taxation, the report said. Park added that although a bill to delay digital asset taxation had also been proposed within the Democratic Party, it had not become official party policy, making it unclear what conclusion lawmakers would reach during the bill review process in November.