Hong Nam-ki, Deputy Prime Minister for Economy, Announces Resignation... President Moon Rejects (Update)
Hong Nam-ki, Deputy Prime Minister for Economy and Minister of Economy and Finance (Photo by Yonhap News)
View original image[Asia Economy Reporter Kwangho Lee] Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, announced on the 3rd that he had tendered his resignation, but President Moon Jae-in rejected it.
At the National Assembly's Finance and Economy Committee plenary session that day, Deputy Prime Minister Hong stated regarding the maintenance of the 1 billion KRW capital gains tax threshold for major shareholders, "I felt the need to take responsibility for the two months of debate and controversy, so I submitted my resignation today, taking responsibility for maintaining the current system."
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He continued, "In the current situation of increasing global economic uncertainty, the high-level ruling party and government decided to maintain the 1 billion KRW threshold as it is," adding, "Although I expressed opposing views, it was decided at a higher level to keep it at 1 billion KRW, so it will be maintained as it currently stands."
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