People Power Party floor leader Jung Jeom-sik said South Korea should reconsider its plan to begin taxing digital assets in January next year, arguing that a rushed rollout could drive domestic capital overseas.

According to industry officials on September 30, Jung made the remarks during a meeting at the National Assembly with Lee Hyeong-il, deputy prime minister and minister of finance and economy. He said the government should not rush ahead with the tax and should consider postponing or abolishing it.

Jung voiced concern that taxing digital assets in South Korea could lead to capital outflows. A heavy-handed tax push would only send money to places such as Hong Kong and Singapore, he said. With both ruling and opposition parties having proposed bills to delay or repeal the tax, he urged the government to proceed cautiously.

Under the current system, the digital-asset tax is scheduled to take effect in January next year. Political calls have continued for another delay to the rollout or for the tax framework to be redesigned.

Jung also reportedly asked the government to review its plan to establish a future-response fund. Extra or additional tax revenue is temporary rather than permanent, he said, while spending becomes permanent once increased. If tax revenue rises because of temporary factors, policy should be designed to reduce the public's tax burden, he added.

Lee said policy should begin with the public and real-world conditions. The government would move quickly on policies shaped by direct feedback from citizens and businesses to deliver tangible results, he said. He added that, as the government's top economic policy office, it would make a special effort to keep prices stable and ease polarization across society in areas such as housing and jobs.