Political parties tentatively agree on taxes on digital assets in 2029

The ruling and opposition parties have tentatively agreed on introducing taxes on digital assets in 2029, a ruling party lawmaker said Wednesday, as the government seeks to delay such taxes by two years.

Rep. Oh Gi-hyoung of the ruling Democratic Party told reporters that a subcommittee of the National Assembly's finance and economy committee that includes lawmakers from the main opposition People Power Party has reached a consensus on delaying taxes on digital assets.

Oh said the parliamentary subcommittee has discussed some procedural matters on the government's plan, hinting that the relevant bill could be approved.

Last week, Finance Minister Lee Hyoung-il said the government will seek to delay a planned tax on digital assets by two years, from 2027 to 2029.