Techub News reports, according to Edaily, that Park Jung-ryeol, the head of the Individual Taxation Bureau at the Korea National Tax Service, explicitly stated in a briefing today that the NTS has officially initiated preparations for the virtual asset taxation set to be implemented in January 2027, aiming to ensure the smooth filing of the first comprehensive income tax in May 2028. Although the NTS is steadily advancing, there is still significant controversy within South Korea. The ruling party, the "People Power Party," currently advocates for abolishing the tax plan, citing reasons such as the current tax standards being incomplete and funds potentially flowing out to countries not participating in the "Crypto Asset Reporting Framework" (CARF). Currently, the tax authorities' preparations are proceeding in parallel with political negotiations.