Hong Nam-ki: "Comprehensive Capital Gains Tax on Stocks to Be Implemented as Planned from 2023"

Major Shareholder 1 Billion Won Maintained... "Will Follow Decision of Party, Government, and Blue House"

[Image source=Yonhap News]

[Asia Economy Reporter Jang Sehee] Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki stated on the 5th, "We will proceed as planned to fully tax capital gains exceeding 50 million won from stock transfers starting in 2023."

On the same day, during the National Assembly Budget and Accounts Special Committee, when Justice Party lawmaker Lee Eun-joo pointed out, "It was decided to impose capital gains tax on stock transfer profits exceeding 50 million won from 2023, but if individual investors oppose, it seems there will be another postponement," Hong responded accordingly.

Regarding the decision to maintain the major shareholder threshold at the current 1 billion won, Hong explained, "While the principle of fair taxation is important, we could not overlook the contributions made by individual investors during the COVID-19 situation. This was decided after intensive consultations among the ruling party, government, and the Blue House, and I believe it is right to follow this decision."

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