<野> Lee Won-wook "Democratic Party's Conditional Postponement Proposal for Financial Investment Tax Late but Fortunate"

"Scholarly Awareness of Issues Is Correct
But Must Respond with Merchant Sensibility"

[Image source=Yonhap News]

[Asia Economy Reporter Hyunju Lee] On the 20th, Lee Won-wook, a member of the Democratic Party of Korea, evaluated that the Democratic Party responded well with a politician's 'merchant-like sense of reality' regarding the party's conditional proposal to postpone the financial investment income tax.

On the same day, Lee wrote on his Facebook, "If there is no public acceptance, policies will not be accepted in the market," and pointed out, "Even if enforced, only side effects will occur."

He explained, "The capital market tax system reform plan promoted by the Democratic Party two years ago was the right direction, but now, two years later and just before implementation, it is not the right time. The argument that it must be implemented by law is correct from a 'scholarly problem awareness' perspective, but not from a merchant-like sense of reality."

He then cited the comprehensive real estate holding tax (종합부동산세, Jongbuse) as an example, saying, "The Jongbuse was designed so that only 1% of real estate owners paid it at the time of its introduction. However, under the Moon Jae-in administration, Jongbuse was used as a real estate price regulation policy, and this year, the tax target has become 1.2 million households, or 8% of real estate owners. At this point, even people unrelated to Jongbuse have turned against it. How can we understand the fact that 57% of the public opposes Jongbuse?"

Lee argued, "In the capital market tax issue as well, efforts should be focused on increasing public acceptance. Unfortunately, 66% of the public supports postponing the financial investment income tax. The Democratic Party, with a merchant-like sense of reality, must show this to the public."

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