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Korbit is a cryptocurrency exchange founded in 2013 and headquartered in Seoul, South Korea. It was the first Bitcoin-Korean Won (KRW) currency exchange in the world.
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Korea's National Tax Service launches preparatory work for virtual asset taxation, targeting implementation in January of next year
the Korea National Tax Service has initiated preparatory work for virtual asset taxation, with the goal of formal implementation in January 2027 and preparation for comprehensive income tax filings in May 2028. According to the current Income Tax Act, income from the transfer and leasing of virtual assets will be classified as "other income," subject to a 22% tax rate on the portion exceeding an annual gain of 2.5 million Korean won, which is expected to affect approximately 13.26 million individuals.The Korea National Tax Service plans to begin collecting data from exchanges such as Upbit, Bithumb, Coinone, Korbit, and Gopax starting next year, to improve the taxation infrastructure and promote the launch of a comprehensive virtual asset analysis system within the year. However, controversies surrounding taxation standards and the risk of capital flight persist. (Edaily)
South Korean Nexon Group accelerates business restructuring, divesting cryptocurrency-related subsidiaries
South Korean gaming giant Nexon Group’s parent company, NXC, recently disclosed that it has completed the spin-off of its cryptocurrency-related subsidiaries and acquired European industrial solutions firm CLI Group B.V. through its Belgian investment arm, NXMH. In 2025, NXC reported revenue of KRW 5.1751 trillion, up 3.8% year-on-year; however, operating profit declined 17.4% year-on-year to KRW 960.9 billion, and net profit dropped sharply to KRW 85.9 billion due to a base effect. Regarding cryptocurrency holdings, as of end-2024, NXC held 2,356 bitcoins and 22,420 ether, with a total value of approximately KRW 147.6 billion—down 15.2% from the prior year. Meanwhile, NXC has sold its stake in overseas cryptocurrency exchange Bitstamp and decided to divest its entire equity interest in domestic cryptocurrency exchange Korbit; consequently, these entities are no longer consolidated into the group’s financial statements.