Korean civil servants are required to declare virtual assets

The Korean "Ethics Law for Public Officials" requires civil servants to declare their property changes from the previous year in February each year, affecting approximately 290,000 individuals. The reported assets include real estate, securities, bonds, debts, deposits, antiques and artworks, membership rights, intellectual property rights, etc. Starting this year, a new category of virtual assets has been added. Obliged registrants must report all virtual assets and deposits they hold.