Choo Kyung-ho: "Financial Investment Tax Abolition and Pension Reform Must Be Discussed Immediately by Both Parties"... Emphasizing Livelihood

"Form a Pension Reform Special Committee by the End of August"
"Start Ruling, Opposition, and Government Consultations for People's Livelihood"

Choo Kyung-ho, floor leader of the People Power Party, urged the Democratic Party of Korea on the 6th to immediately start discussions on urgent livelihood issues such as the abolition of the financial investment income tax and pension reform.

[Image source=Yonhap News]

At the floor strategy meeting held at the National Assembly that day, Floor Leader Choo said, "The financial investment income tax will be implemented in five months if left as is. A petition demanding the abolition of the financial investment income tax has gained over 50,000 signatures." He added, "Considering the recent increase in stock market volatility, we cannot delay discussions on abolishing the financial investment income tax any longer. The ruling and opposition parties must start negotiations immediately." He continued, "Warnings have been issued that pension fund losses increase by 100 billion won every day pension reform is delayed," and emphasized, "We must promptly start discussions on pension reform, encompassing both parametric and structural reforms. By the end of August, let us form a special committee on pension reform in the National Assembly and begin trilateral consultations among the ruling party, opposition parties, and government."

For the second consecutive day following the previous day, Floor Leader Choo proposed prioritizing the passage of livelihood bills to the opposition party. He said, "Bills on which the ruling and opposition parties have no or minor disagreements should be discussed swiftly and passed by the end of August," and added, "Even if there are significant differences in views, urgent issues for livelihood stability require starting trilateral consultations among the ruling party, opposition parties, and government as soon as possible to begin preparing alternatives." He further stated, "I do not think this is such a difficult task," and added, "If the Democratic Party, the major opposition party, has the will, it is entirely possible."

Additionally, Floor Leader Choo said, "The real estate issue is the same. As house prices are rising sharply, there are concerns that the crazy house prices seen during the Moon Jae-in administration could recur," and stated, "We must promptly pass the amendment to the Urban Renewal Act in the National Assembly to expand reconstruction supply and stabilize house prices, so that housing supply increases in areas with market demand."

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