South Korea will implement taxation on virtual assets beginning January 1, 2027, as confirmed by Moon Kyung-ho, Director of the Income Tax Division at the Ministry of Economy and Finance. This announcement marks the first official statement from the ministry regarding virtual asset taxation. The tax will classify income from the transfer or lending of virtual assets as other income, subject to a 22% tax rate on gains exceeding 2.5 million KRW. The new tax regulation will affect approximately 13.26 million investors. The National Tax Service is currently drafting guidelines and has engaged in discussions with the country's five major virtual asset operators. A legislative notice is expected to be issued soon, outlining the specifics of the taxation process.