South Korean lawmaker warns 22% crypto tax could drive capital overseas 
South Korean lawmaker Park Soo-young has called for the government to withdraw its planned 22% tax on virtual asset gains before the levy takes effect on Jan. 1, 2027, arguing that the policy unfairly targets roughly 13 million crypto users while investment taxes on domestic stocks have been scrapped.
According to Digital Asset, the People Power Party lawmaker criticized the tax plan on his YouTube channel, “Park Soo-young’s Economy TV,” on Aug. 13, describing it as a punitive policy that could push more Korean capital toward overseas cryptocurrency markets. 
The lawmaker compared the treatment of crypto investors with South Korea’s decision to abolish the financial investment income tax, which would have applied to investment income from financial products including stocks. Park argued that removing the investment tax while retaining a separate levy on virtual assets amounts to telling investors they could face a “tax bomb” if they choose not to invest in the domestic stock market.
