Choo Kyung-ho: "No Reason for Public Enterprises to Hold YTN Shares"

[Image source=Yonhap News]

[Asia Economy Sejong=Reporter Kim Hyewon] Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho reaffirmed the validity of selling YTN shares on the 18th, stating, "There is no reason for public enterprises to hold shares in YTN."

When Assemblyman Seo Myeong-gyo of the Democratic Party questioned the validity of public enterprises selling YTN shares at the National Assembly Planning and Finance Committee plenary session that day, Deputy Prime Minister Choo responded accordingly.

After KEPCO KDN expressed its intention to sell 21.43% of YTN shares and Korea Racing Authority indicated its intention to sell 9.52%, the government recently officially accepted this.

Deputy Prime Minister Choo explained, "We have decided to sell non-core assets while conducting various innovation programs targeting public enterprises," adding, "Public institutions submitted their intention to sell, and the Public Innovation Task Force (TF) consulted and accepted the intentions of the public institutions."

He said, "Regardless of who owns it, fair reporting is the fundamental mission of the press," and added, "I believe the subject (who holds the shares) is irrelevant."

In response to a question from Assemblyman Kim Sang-hoon of the People Power Party regarding the implementation of the financial investment income tax system, he said, "We need to observe the market situation while postponing the implementation of the financial investment income tax system for two years."

Deputy Prime Minister Choo emphasized, "Considering the current domestic and international financial market conditions and the vulnerability of the stock market, it is not appropriate to implement it as originally planned," and "there is a need to postpone it for at least about two years."

He continued, "The financial investment income tax represents a comprehensive change in the financial tax system," and said, "I hope the National Assembly will review the bill considering the purpose of the law and the market situation."

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