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Capital gains from the transfer of artwork are classified as miscellaneous income regardless of the number of transactions. Article 41, Paragraph 14 of the Enforcement Decree of the Income Tax Act states, “ Calligraphy, paintings, and antiques, as prescribed by Presidential Decree, are those whose transfer price per piece, point, etc. is 60 million won or more. However, in the case of transfer, works by domestic original authors who are currently alive are excluded.” Therefore, artworks with a transfer price of 60 million won or less and works by domestic living artists are exempt from taxation . (Amendment to the Income Tax Act passed by the National Assembly Planning and Finance Committee in November 2020)