South Korea Establishes Digital Asset Division Ahead of Virtual Asset Taxation Next January

South Korea's National Tax Service has created a Digital Asset Division to prepare for the start of digital asset taxation next January. According to NS3.AI, the new unit is structured into three internal teams and will focus on building the administrative and technical groundwork needed for taxing virtual assets. Lee Soon-yong was appointed as the division's director on June 30. The division's responsibilities include planning the tax system and developing related IT systems for virtual assets.