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Kim Min-seok, leader of South Korea’s ruling Democratic Party, said a conclusion should be reached this year on whether to proceed with virtual asset taxation as planned or revise the system.
Appearing on the Democratic Party’s YouTube program “Minti 07” today, Kim said it was time to begin focused discussions on whether to keep the tax plan unchanged or pursue institutional revisions. Kim added that, under the current principle, the plan remains in place, but growing public debate and a range of opinions mean the issue should be reviewed closely before a final decision is made this year.
Kim also said the key questions were whether market conditions were sound, what younger people were saying, and whether the tax system was fully in place, adding that the current environment was not one for weighing tax revenue.