SH Corporation, Tax on Property Holdings Forum on the 22nd: "An Obstacle to Rental Housing Supply"

Seoul Housing and Communities Corporation (SH Corporation) announced on the 19th that it will hold a forum on the holding tax system imposed on public rental housing.

원본보기 아이콘

SH Corporation, the Korean Urban Administration Association, and the Korean Tax Association will hold the forum at 2 p.m. on the 22nd at the Yeouido FKI Tower.

Jieun Kim, Senior Researcher at SH Urban Research Institute, will present on "Holding Tax Systems for Public Rental Housing in Major Overseas Countries and Implications," and Seongman Yoon, Professor at Seoul National University of Science and Technology, will present on "Economic Effects of Holding Tax Reductions for Public Rental Housing." Afterwards, experts in housing, urban planning, and taxation, led by Professor Yoonseong Ko of Hankuk University of Foreign Studies, will discuss desirable policy directions.

SH Corporation argues that holding taxes such as the comprehensive real estate tax imposed on public rental housing negatively affect the supply and operation of rental housing. Heondong Kim, President of SH Corporation, stated, "Since public rental housing is operated at about 30% of market price, imposing the comprehensive real estate tax, which is a speculative suppression tax, is an unnecessary regulation."

SH Corporation is pursuing a constitutional review (constitutional complaint) regarding the comprehensive real estate tax imposed on public rental housing.

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.