Handonghun: "The Democratic Party is the target for judgment... We will abolish the financial investment tax"

Han Dong-hoon, Emergency Response Committee Chairman of the People Power Party, sharply criticized the Democratic Party of Korea for repeatedly promoting the "regime judgment theory," saying, "They seem to have forgotten that they themselves are the subject of judgment."

On the morning of the 24th, at the Central Election Countermeasures Committee meeting held at the party headquarters in Yeouido, Seoul, Chairman Han referred to the fact that the Democratic Party’s election committee has established committees such as the Regime Judgment Headquarters, Economic Collapse Judgment Headquarters, and Prosecution Dictatorship Judgment Headquarters. He stated, "Under the People Power Party’s election committee, there are the Special Committee on Livelihood Economy, the Gyeonggi-Seoul Renovation Special Committee, and the Gap Reduction Special Committee," emphasizing, "Our special committees aim to improve the daily lives of fellow citizens, resolve pressing issues, and move forward."

People Power Party's Han Dong-hoon, Emergency Response Committee Chairman and General Election Countermeasures Committee Chairman, is speaking at the Central Election Countermeasures Committee meeting held at the Central Party Office in Yeouido, Seoul on the 24th.
[Image source=Yonhap News]

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Regarding Democratic Party leader Lee Jae-myung’s recent remark at a campaign event that "instead of pestering China, just say 'xie xie' (謝謝, meaning thank you)," Han pointed out, "Lee Jae-myung’s statement once again confirmed the Democratic Party’s submissive attitude toward China." Chairman Han criticized, "Last summer, Lee also showed an incomprehensible act of submission," adding, "He personally visited the Chinese Embassy in Korea and obediently listened for 15 minutes to a lengthy lecture, almost like a reprimand, from Ambassador Xing Haiming, who is only at the level of a director-general in the Ministry of Foreign Affairs." He then stressed, "Does bowing your head like that increase national interests? Isn’t it rather sending a signal that it’s okay to disregard Korea?"

In particular, Han demanded that Lee and the Democratic Party clarify their stance on China’s Northeast Project and the cross-strait issue. He said, "Even when illegal Chinese fishing boats enter our West Sea and catch all the juvenile fish, and when they claim our precious cultural heritage such as Hanbok and Kimchi as their own culture, and make false claims about our culture through the so-called 'Northeast Project,' I want to ask whether Lee Jae-myung and the Democratic Party will respond by saying 'xie xie' in accordance with those intentions." Regarding the cross-strait issue, he said, "Lee’s position is just to 'watch quietly,' but worldwide, the only forces supporting such changes of the status quo by force are China, North Korea, and Lee Jae-myung’s Democratic Party."

Democratic Party leader Lee Jae-myung is greeting citizens on the 23rd in Soheul-eup, Pocheon-si, Gyeonggi Province.
[Image source=Yonhap News]

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He also reiterated his plan to counter the Democratic Party’s "regime judgment theory" with a policy-based election. Chairman Han said, "The People Power Party will be the power of 14 million individual investors," and promised, "We will definitely abolish the financial investment income tax." He added, "The People Power Party has submitted a bill to abolish the financial investment income tax (an amendment to the Income Tax Act), but the bill is not passing and is at risk of being discarded because the major opposition party, the Democratic Party, opposes it," appealing, "In this general election, please judge the Democratic Party that is blocking the abolition of the financial investment income tax and empower the People Power Party to abolish it."

The financial investment income tax is levied on investors who earn income of 50 million KRW or more (stocks) from financial investments such as stocks, bonds, funds, and derivatives. It was originally scheduled to be implemented last year but was postponed until 2025 by bipartisan agreement. However, the government reversed its position earlier this year and is pushing for legal amendments to abolish the tax. Chairman Han expressed concern, saying, "If the investment income tax is imposed in addition to the existing stock transaction tax, it will cause investors to withdraw, leading to a downturn in the capital market and ultimately reducing tax revenue."

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