Lee Jae-myung: "Inheritance Tax → Capital Gains Tax is a Topic Worth Discussing... 'Jeoktong' Means Crown Prince, Which Does Not Align with Democracy"

2nd Burn Injury Press Conference
"Inheritance Tax Requires Social Grand Compromise"
"Request for Ideas on Capital Gains Tax Transition"
"'Jeoktong' Is a Term Used Only When Choosing Crown Prince"
"Does Not Align with Modern Democracy"

[Asia Economy Reporter Koo Chae-eun] Lee Jae-myung, Governor of Gyeonggi Province, said on the 16th, "I hope we can have a broad social debate on inheritance tax," adding, "Converting inheritance tax into a capital gains tax is a topic worth discussing." Regarding the recent 'legitimacy competition' among presidential primary candidates, he said, "It's sad. Any member of the Democratic Party is qualified to be a presidential candidate," and added, "It does not fit modern democracy."

At an online press conference held that afternoon, when asked about the business sector's demand for lowering the inheritance tax rate, Lee said, "I understand that, excluding Samsung, about 6 to 7 trillion won is collected annually from inheritance tax. I think it is necessary to simulate the current average collection and discuss whether to collect more through capital gains tax or asset gains tax and convert inheritance tax accordingly. (It's not finalized) but I hope you all make proposals (on alternatives)."

Lee said, "If more tax is collected on asset holdings first and then inheritance is taxed, there will be fewer illegal regulations such as loophole inheritance, and tax revenue will likely increase. Many countries worldwide have converted inheritance tax into capital gains tax," adding, "I have been asked to review this as well, but I have not reached a conclusion yet." He also said, "Many people worry about whether taxes will be imposed even if they are not subject to inheritance tax, and there are loopholes to avoid paying inheritance tax," and added, "I think these aspects need to be considered."

He maintained a critical stance on the 'legitimacy debate' within the Democratic Party. He retorted, "Isn't legitimacy about deciding the crown prince by whether he is the child of the official queen, a palace maid, or a servant in a democratic monarchy?" Then he said, "In a democratic country, I believe the party members are the owners of the party and the people are the owners of the country. Any member of the Democratic Party is qualified to be the party's representative," adding, "But it feels like they are judging based on bloodline. This does not fit modern democracy."

Lee said, "I am just one of the party members anyway, and in terms of power relations, I was not actually at the center," and added, "I just hope that statements deviating from the principle of popular sovereignty and member-centered party are avoided as much as possible."

Regarding the recent negative exchanges in the party primary, he said, "Winning by arguing with each other does not mean you actually win," and "The public will watch the current disputes and make a rational judgment." He added, "I am originally an attacker, but I decided not to retaliate, so if I were to imitate, I should hit hard, but since I shouldn't hit, I think I was trembling. It seemed like a kind of psychological instability, neither attacking nor defending, wanting to attack but forcibly holding back, which looked strange."

Lee said, "Still, until now, even in cases close to slander with harsh negativity, I did not retaliate, but I have come to think that I should not continue like this," and added, "I will point out the parts where facts were twisted."

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