PANews reported on April 29th that, according to Edaily, Park Jung-yeol, head of the Individual Taxation Bureau of the National Tax Service of Korea, stated in a briefing on April 29th that despite the ongoing controversy surrounding the taxation of virtual assets, the National Tax Service has begun preparations for implementing the tax in January next year, aiming to ensure the smooth filing of comprehensive income tax returns in May 2028. Under the current income tax law, starting January 1, 2027, income from the transfer and leasing of virtual assets will be classified as "other income," subject to a 22% tax rate (20% for other income tax + 2% for local income tax) on annual gains exceeding 2.5 million won. Approximately 13.26 million people will be subject to this taxation. The National Tax Service plans to officially obtain data from virtual asset exchanges such as Upbit, Bithumb, Coinone, Korbit, and StreamiGopax starting next year to establish the basis for taxation and improve the calculation standards for transfer price differences and data linkage between HomeTax and exchanges. The comprehensive analysis system for virtual assets is expected to be officially launched by the end of this year. However, the People Power Party argues against abolishing the taxation of virtual assets, citing issues such as imperfect taxation standards and the potential outflow of funds to countries that have not joined CARF.