Hong Nam-ki: "Maintain the Current Major Shareholder Threshold of 1 Billion KRW for Stock Transfer Tax"

[Image source=Yonhap News]

[Asia Economy Reporter Jang Sehee] Deputy Prime Minister and Minister of Strategy and Finance Hong Nam-ki stated on the 3rd that the major shareholder threshold for stock capital gains tax will be "maintained at 1 billion KRW as it is currently."

Deputy Prime Minister Hong added at the National Assembly's Planning and Finance Committee on the same day, "Considering the recent rise in global geopolitical tensions and economic uncertainties, the high-level ruling party-government-office meeting decided to maintain the major shareholder threshold at 1 billion KRW as it currently stands."

He explained, "Since the threshold is 300 million KRW per single stock, the government believes it should follow the existing policy for tax fairness on such asset income. However, the high-level ruling party-government-office meeting discussed and agreed to maintain the 1 billion KRW threshold."

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