Park Jong-soo, President of the Korean Tax Law Association, asserted that rather than viewing virtual assets as a single income and classifying them as other income, income types should be distinguished according to the economic substance of each transaction. According to Money Today Broadcasting, on the 3rd, during the ‘2027 Virtual Asset Taxation System Review Debate,’ Chairman Park proposed that profits from buying/selling and exchange be classified as capital gains, lending and deposit profits as interest income, profit distribution as dividend income, and activities with strong business characteristics, such as mining, as business income. He also explained that it is necessary to determine whether income tax and gift tax apply to airdrops and hard forks.
