South Korea's Tax Authority Recovers 33.9B Won Through Cross-Border Cooperation, to Receive Crypto Asset Reports from 56 Countries Starting 2027

Gate News message, April 28 — South Korea’s National Tax Service has recovered 339 billion won (approximately $23 million) in back taxes over the past nine months through cooperation with tax authorities in three countries since launching its new system in July 2025. This recovery accounts for the majority of the 372 billion won in total cross-border recoveries since 2015. The tax authority has exchanged information with 163 jurisdictions to track assets hidden overseas.

Beginning in 2027, South Korea will receive virtual asset transaction data from 56 countries under a new crypto asset reporting framework. From 2030 onwards, the country will also exchange information on overseas real estate holdings and transactions.

The National Tax Service also participated in an overseas bankruptcy proceeding for the first time, asserting claims against a real estate developer that filed for bankruptcy in Indonesia and successfully obtaining creditor status.