Chung Jom-sig, floor leader of the People Power Party, urged Deputy Prime Minister and Finance and Economy Minister Lee Hyoung-il on the 30th to consider delaying or scrapping taxation on virtual assets. He also called for a full review of the Future Response Fund, which is financed by excess tax revenue.
Chung stressed the need for caution on crypto taxation when Lee visited the National Assembly that day to pay courtesy calls after taking office. "Taxation itself should not be rushed — options include delaying or abolishing taxes on digital assets," he said. "There are concerns that forcing taxes through could trigger capital outflows to places such as Hong Kong or Singapore." He added, "Since both the ruling and opposition parties have introduced bills to delay or repeal the measure, the government should also take a cautious approach."
He also called for a complete reassessment of the Future Response Fund. "Excess or additional tax revenue is temporary rather than permanent, while spending cannot be cut once it increases," Chung said. "If revenue rises because of temporary factors, policy should be designed to reduce the tax burden on the public."
Chung also conveyed the difficulties facing the broader economy. He said complaints about price pressures and management difficulties at small and medium-sized enterprises are widespread on the ground, adding, "An optical illusion is emerging in which the semiconductor boom masks the economy's troubles." He then urged Lee to "show that you can speak frankly even to the president."
Lee said, "The starting point of policy is the public and the field." He added, "We will listen directly to the voices of the public and businesses, swiftly implement the policies we decide on, and produce results that people can feel." He also said, "As the ministry overseeing the economy, we will make particular efforts to keep prices — the foundation of everyday livelihoods — stable and to ease polarization across society, including in housing and jobs."
