Поділитися цією статтею
South Korea Plans Tax Perks for Blockchain Startups
South Korea is planning to cut tax for companies developing nascent technologies such as blockchain as part of its push for innovation growth.
Автор Wolfie Zhao
The South Korean government has announced a plan to revise the current tax rules to widen benefits for companies that focus on the development of nascent technologies, including blockchain, as part of the country's push for innovation growth.
Announced Wednesday, after a meeting of ministers from eight government agencies working on economic policy, tax rates are to be reduced for companies dealing with a range of 157 "new-growth technologies" in 11 areas, according to a report from CoinDesk Korea.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
In addition, the ministers proposed to reduce the threshold for companies to be eligible for tax reduction benefits. Currently, in order to get tax deduction, a firm must allocate more than 5 percent of the previous year's gross sales to R&D and 10 percent of its R&D investment should focus on new growth technologies such as blockchain.
Since a lack or absence of sales in a startup's first year could make it difficult for it to apply for tax benefits, the ministers suggest the r&D investment requirement should be changed to more than 5 percent of the current year's gross sales.
However, the government has not disclosed how much the tax deduction might be, saying further details of the proposal will be announced on July 26, with the changes expected to take effect by the first quarter of 2019.
The meeting is the second in a week on the same topic, which was also discussed by ministers last Friday. An report from news agency Yonhap at the time indicated that the new tax rule would apply to any company based in South Korea that focuses on blockchain technology, whether they are foreign or domestic firms.
In related news, the South Korea's Ministry of Science and ICT recently announced it plans to invest $9 million until the end of 2019 to support blockchain pilot programs in six public service areas.
Korean won image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
TON Extends Slide, Drops More Than Broader Crypto Market
The token's trading range was volatile with above-average volume indicating trader repositioning and uncertainty.
What to know:
- TON's price fell 3.4% to $1.5567, underperforming the broader crypto market which lost 1.8%.
- The token's trading range was volatile with above-average volume indicating trader repositioning and uncertainty.
- Technical signs are mixed, with TON finding support near $1.5449 but struggling to sustain recoveries, leaving traders watching for signs of stabilization or further rotation away from the asset.
Top Stories
