Democratic Party to Propose 1-Year Postponement of Heavy Capital Gains Tax on Multiple Homeowners +α... Party Consensus Expected in April

On the 31st, Discussion on Real Estate Policy Direction at Policy General Meeting
"Political Reform Issues Also Addressed but No Advanced Proposals"

[Asia Economy Reporters Oh Ju-yeon and Park Jun-i] On the 31st, the Democratic Party of Korea is expected to present an additional proposal that adds a "plus alpha (+α)" to the Presidential Transition Committee's one-year deferral plan regarding the heavy taxation on capital gains for multi-homeowners. It appears that this will be pushed forward as a party stance and decided within April.

On the same day, the Democratic Party held a policy members' meeting at the National Assembly to discuss these opinions. Floor spokesperson Lee Su-jin told reporters after the meeting, "We took time for reflection and introspection, thinking that 'Wasn't the biggest reason for the last presidential election defeat the real estate policy?'" and added, "There were also talks about the need for deferral and improvement of the scope regarding the heavy capital gains tax."

The spokesperson said, "However, it is difficult to proceed by discussing it in just one day; in-depth discussions are needed through the Seoul City Party FGI (Focus Group Interview), standing committees, and special committees. Expert opinions must also be included," and added, "There was an opinion to hold a members' meeting in April to decide as a party stance."

He continued, "The reason for discussing the real estate tax system was that it was seen necessary to resolve the phenomenon of 'maemul jamgim' (property supply freeze)," explaining, "Because a large supply of properties must come out for real estate solutions to emerge."

He said, "The Transition Committee proposed a one-year deferral of the heavy taxation," and added, "There was also an opinion that we need supplementary measures to add on top of that."

There were no discussions related to the three lease laws, comprehensive real estate tax, or holding tax.

Regarding political reform tasks, it was concluded at the level of making efforts to persuade the People Power Party. In the meeting between the two parties' floor deputy leaders and the National Assembly Political Reform Special Committee secretaries held before the members' meeting, only the differences in positions were confirmed before they parted ways.

The spokesperson said, "It would be good if a good conclusion is reached at the plenary session on April 5, but the People Power Party still shows reluctance, so it is not easy," and added, "I think discussions can continue even after the plenary session."

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