Han Jeong-ae: "'Property tax of 600 million won' is being finalized... 80% realization rate? This is the first time I'm hearing about it"

Han Jeong-ae, Chair of the Policy Committee of the Democratic Party of Korea, is attending the floor strategy meeting held at the National Assembly on the 27th and delivering opening remarks. Photo by Yoon Dong-ju doso7@

[Asia Economy Reporter Wondara] The Democratic Party of Korea and the government have settled on easing property tax criteria for single-homeowners to 'under 600 million KRW.' The major shareholder threshold for capital gains tax on stock transfers will remain at the current 1 billion KRW with a grace period.

On the morning of the 3rd, after the floor strategy meeting at the National Assembly, Han Jeong-ae, Chair of the Democratic Party Policy Committee, responded to the question, "Can we say the ruling party and government have settled on 600 million KRW for property tax?" by saying, "The direction has been set," and added, "I predict the announcement will be made either today or tomorrow."

She said, "It is true that there were various opinions among party members," and added, "We are clearly identifying the concerns of local governments and the decrease in tax revenue by each basic local government and making micro adjustments, so it will probably be finalized soon." Regarding the specific timing of the announcement, she said, "There is no reason for the announcement to be delayed beyond this week."

Regarding reports that the official land price realization ratio would be adjusted from 90% to 80%, Chair Han drew a line, saying, "This is the first time I am hearing about that." She added, "I understand it was reviewed at 90% last week. I have not heard of any changes."

The ruling party and government are expected to conclude to maintain the current 1 billion KRW threshold for major shareholders subject to capital gains tax on stock transfers.

Yang Hyang-ja, a Supreme Council member of the Democratic Party and member of the Planning and Finance Committee, said in a CBS radio interview that morning, in response to the question, "There are reports that the government plan to lower the major shareholder threshold to 300 million KRW is being postponed and the property tax easing criterion has been decided as 600 million KRW instead of 900 million KRW," "That possibility is the highest."

Jang Kyung-tae, a Democratic Party lawmaker on the National Assembly Land, Infrastructure and Transport Committee, also said in an MBC radio interview that morning, "It seems that there has been a half-step concession to maintain the current 1 billion KRW for the major shareholder threshold for capital gains tax on stock transfers."

This content was produced with the assistance of AI translation services.