Tax on Selling Gold in South Korea
South Korea taxes only the kinds of income its Income Tax Act lists, and gains on selling physical gold (bars, coins, jewellery) aren't among them, so individuals pay no tax on the gain. The cost comes at purchase: 10% VAT on bars. Gold held on the KRX gold market is free of VAT and gains tax unless you withdraw it, while gold bank accounts and domestic gold ETFs are taxed at 15.4%.
Facts checked 30 October 2026 · Not financial, legal or tax advice
At a glance
| What you sell | How the gain is taxed | Notes |
|---|---|---|
| Physical gold bars, coins, jewellery | Not taxed: the gain isn't a listed type of income. | 10% VAT when you buy; not refundable to individuals. |
| KRX gold market (exchange gold account) | Exempt from capital gains and dividend tax. | No VAT on trades; 10% VAT plus a fee if you withdraw bars (1kg or 100g units). |
| Gold bank account (금 통장) | 15.4% dividend income tax, withheld. | Counts toward the ₩20 million financial-income threshold. |
| Domestic gold ETFs | 15.4% dividend income tax. | Overseas-listed gold ETFs: 22% capital gains tax. |
| Silver bars and coins | Not taxed on sale, as for gold. | 10% VAT when you buy; the KRX market trades gold only. |
How gold gains are taxed
- Korea's Income Tax Act taxes only income it lists. Gains from holding and selling gold bars aren't on that list, so they aren't taxed (KB Kookmin Bank tax column).
- Buying physical gold costs 10% VAT plus a dealer premium (around 5% for bars, per Maeil Business), so the price must rise roughly 15% before you break even.
- KRX gold market: under the Restriction of Special Taxation Act (art. 126-7), trades are VAT-free; individuals' gains are exempt from capital gains and dividend tax and aren't counted for comprehensive financial-income tax. Withdrawing bars triggers 10% VAT on the average purchase price times the quantity.
- Gold bank accounts and domestic gold ETFs: gains are dividend income taxed at 15.4% (14% plus 1.4% local tax). If your interest and dividends exceed ₩20 million in a year, they're taxed with your other income at up to 49.5%.
- Dealing in gold as a business is taxed as business profit.
Reporting
- No tax return or report for a private sale of physical gold or KRX gold.
- Tax on gold bank accounts and ETFs is withheld; you file only if financial income tops ₩20 million.
Losses
- Losses on physical or KRX gold have no tax effect, since gains aren't taxed.
- We found no rule letting individuals deduct losses on gold accounts or ETFs from other income.
Tax on Selling Gold in South Korea: FAQ
Do I pay tax when I sell gold bars in Korea?
No. Gains on physical gold aren't a listed type of taxable income for individuals, so there's no capital gains tax. You pay 10% VAT when you buy the bars instead.
Is the KRX gold market tax-free?
Yes for individuals: no VAT on trades and no capital gains or dividend tax on the gain, and it isn't counted for comprehensive financial-income tax. You pay 10% VAT only if you withdraw physical bars.
How are gold ETFs and gold bank accounts taxed in Korea?
Gains on domestic gold ETFs and gold bank accounts are dividend income taxed at 15.4%, and count toward the ₩20 million comprehensive financial-income threshold. Overseas-listed gold ETFs are taxed at 22% as capital gains.
Sources (5)
General information about the rules for individual investors, checked October 2026. Tax depends on your circumstances and residence; check with the tax authority or an adviser. Not tax advice.