## Seoul Court Sides with Dunamu in Tax Dispute The Seoul High Court has finalized the cancellation of approximately ₩13.4 billion in corporate and income taxes initially levied on Dunamu, the operator of the Upbit cryptocurrency exchange. This decision stems from a lawsuit filed against the National Tax Service (NTS) regarding withholding tax issues related to foreign transactions. ## Upbit Operator Successfully Challenges Tax Assessment In January 2023, the NTS imposed the tax bill on Dunamu. The company challenged this assessment, and the Seoul High Court initially ruled in Dunamu's favor. The recent dismissal of the NTS's appeal by the 8-3 Administrative Division of the Seoul High Court, led by Chief Judge Shin Yong-ho on January 17, 2025, solidifies Dunamu's victory. ## No Appeal Filed, Ruling Finalized The NTS did not appeal the High Court's decision, making the ruling final on February 7, 2025. This outcome provides clarity for Dunamu and sets a precedent for taxation related to cryptocurrency exchanges operating in South Korea. The details of the specific transactions and tax regulations involved have not been fully disclosed. ```