[2020 National Audit] Eun Seong-su "Unified Government Voice Important for 300 Million Major Shareholder Requirement"

[Image source=Yonhap News]

[Asia Economy Reporter Eunmo Koo] Eun Sung-soo, Chairman of the Financial Services Commission, stated that the government's policy to lower the major shareholder threshold for capital gains tax on stock transfers from 1 billion KRW to 300 million KRW "holds significant meaning in presenting a unified voice within the government."

On the 12th, during the National Assembly's audit of the Financial Services Commission by the Political Affairs Committee, Eun responded to Democratic Party lawmaker Kim Byung-wook's question about deferring the expansion of the major shareholder criteria for two years.

Eun said, "I will defer to the Deputy Prime Minister's response to today's question," and explained, "I understand that the Deputy Prime Minister supports improving individual aggregation instead of family aggregation, while maintaining the original amount (300 million KRW)."

Deputy Prime Minister and Minister of Strategy and Finance Hong Nam-ki appeared at last week's audit and announced that they are considering switching from family aggregation to individual taxation for the major shareholder criteria but maintained the position to lower the threshold to 300 million KRW.

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