[2020 National Audit] Hong Nam-ki "Considering Additional Jeonse Measures... Will Maintain Major Shareholder Requirement at 300 Million Won"

Hong Nam-ki, Deputy Prime Minister for Economy. (File photo)

[Asia Economy Reporter Joo Sang-don] Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, stated on the 22nd, "We are monitoring the jeonse market and are considering with related ministries whether additional measures are necessary."

At the comprehensive audit of the Planning and Finance Committee held at the National Assembly that day, Deputy Prime Minister Hong responded to a question from Yang Hyang-ja, a member of the Democratic Party of Korea, asking, "How are you preparing effective measures to resolve the jeonse crisis?"

Hong Nam-ki said, "The government has previously introduced and is steadily implementing measures to stabilize both the sales and jeonse markets," but also assessed that "the jeonse market has not yet stabilized."

Regarding the criteria for major shareholders subject to capital gains tax on stock transfers, he reaffirmed the existing position stated in the previous audit. He emphasized, "The enforcement decree was already revised two and a half years ago to set the major shareholder threshold at 300 million KRW. We will maintain this, but considering market conditions, we are reviewing changing the 'family aggregation' to 'individual basis.'"

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