Vice Minister of Economy and Finance: "No Consideration for Inheritance Tax Reduction"

Regular Briefing of the Emergency Economic Central Disaster and Safety Countermeasures Headquarters on the 29th

[Image source=Yonhap News]

[Asia Economy Reporter Jang Sehee] Lee Eokwon, the 1st Vice Minister of Strategy and Finance, stated, "The government is not currently considering lowering the inheritance tax rate."

Vice Minister Lee made this remark on the 29th during the 'Emergency Economic Central Disaster and Safety Countermeasures Headquarters Regular Briefing' at the Government Seoul Office. The inheritance tax that the Samsung family must pay on the estate left by the late Chairman Lee Kun-hee amounts to approximately 12 trillion won.

Vice Minister Lee said, "There is sufficient discussion every year during the regular National Assembly tax law deliberations regarding what an appropriate level of inheritance tax burden should be," adding, "During those discussions, there are opposing opinions such as whether it should be eased, maintained, or strengthened." He continued, "Considering these circumstances, the government is not separately reviewing a reduction in the inheritance tax rate at this time."

Regarding recent discussions in the political sphere about easing real estate regulations, he said, "I believe the fundamental principles of stabilizing the real estate market and securing stable housing for ordinary citizens, blocking speculative demand, protecting actual demanders, and expanding housing supply must be maintained without wavering," adding, "However, we are reviewing whether there are any areas to supplement within the scope that does not undermine market stability, focusing on actual demanders such as those without homes and those owning one home."

He added, "The government plans to complete internal reviews quickly and proceed with prompt consultations between the ruling party and the government."

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