[South Korea Ministry of Economy and Finance: Virtual asset taxation to proceed as planned starting January 1 next year] According to Edaily, Moon Kyung-ho, head of the Income Tax Division at the South Korea Ministry of Economy and Finance, stated during an emergency review meeting on virtual asset taxation that the government will proceed with its original plan to tax virtual assets starting January 1 next year. This marks the first public statement by the Ministry of Economy and Finance regarding the issue of virtual asset taxation. Under the current Income Tax Act, income generated from the transfer or lending of virtual assets will be classified as 'other income,' and a 22% tax rate (20% other income tax plus 2% local income tax) will apply to virtual asset income exceeding 2.5 million Korean won. The taxation will target approximately 13.26 million investors. Moon revealed that the National Tax Service is drafting relevant notices and has held multiple discussions with the five major virtual asset operators. Legislative announcements are expected to be made soon.