Handonghun Tightens Opposition Pressure on Abolishing Financial Investment Tax... Meeting at the Exchange

Korea, "Approach from the Perspective of Supporting Youth Asset Formation"

On the 27th, Han Dong-hoon, leader of the People Power Party, stated regarding the abolition of the financial investment income tax (Geumtu Tax), "It is about supporting the dreams of youth and the formation of youth assets. We will approach it from that perspective." This is interpreted as an intention to actively raise the sensitive issue of abolishing the Geumtu Tax for the younger generation to expand the party's scope while pressuring Lee Jae-myung, leader of the Democratic Party, who is about to return, and the opposition parties.

On the same day, Han said at an on-site meeting with capital market stakeholders on the theme of "Abolishing the Geumtu Tax to protect the domestic capital market and individual investors" at the Korea Exchange in Yeongdeungpo-gu, Seoul, "Most young people are building assets through the capital market." This is the first time Han has visited the field regarding policy since assuming the party leadership.

Han also pointed out capital outflows to the real estate market and said, "What we need now is for the capital market to become more active," emphasizing, "Along with inheritance tax and separate taxation of dividend income, abolishing the Geumtu Tax can promote the protection of individual investors and the value-up of companies and the stock market."

People Power Party leader Han Dong-hoon is touring the promotional center while listening to an explanation from Jung Eun-bo, Chairman of the Korea Exchange, ahead of an on-site meeting with capital market stakeholders held at the Korea Exchange in Yeongdeungpo-gu, Seoul, on the morning of the 27th. [Image source=Yonhap News]

Before Lee, who was hospitalized due to COVID-19, returns to party affairs, Han increased pressure for the abolition of the Geumtu Tax by visiting the capital market site. Since June, when Han ran for the party leadership election, he has consistently urged the abolition of the Geumtu Tax as part of livelihood policies. If a signal for abolishing the Geumtu Tax is not given immediately, distrust in the domestic stock market will deepen, leading to intensified capital outflows. Accordingly, Han has declared that he will raise the abolition of the Geumtu Tax as an agenda item for talks with Lee.

Meanwhile, the ruling and opposition parties plan to resume working-level consultations at the secretary-general level with the goal of holding a meeting between the two party leaders before Chuseok once Lee is discharged. It is known that the working-level officials from both sides are currently coordinating the schedule and agenda.

People Power Party leader Han Dong-hoon visited KRX Korea Exchange in Yeongdeungpo-gu, Seoul on the 27th and wrote in the guestbook.
[Image source=Yonhap News]

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