"Efforts to Ease Inheritance Tax Last Year... Democratic Party Lukewarm"
[Asia Economy Reporter Lim Chun-han] Former Liberty Korea Party floor leader Na Kyung-won expressed her condolences on the passing of Samsung Chairman Lee Kun-hee on the 26th, saying, “I extend my deepest condolences to Chairman Lee. Upon hearing the news of his death, the political circles hastily issued threats like ‘Pay the inheritance tax properly,’ which makes me question whether they are truly approaching this issue seriously.” She added, “Once the Samsung Group issue is properly resolved, we must now engage in in-depth discussions and create new social consensus on this matter.”
On the same day, Na said on Facebook, “Countries like Canada, Australia, and Sweden have abolished inheritance tax. Also, in many major European countries, the highest inheritance tax rates are lower than those in our country,” adding, “We need to fundamentally review whether South Korea’s inheritance tax rate is at the right level for productive business succession, stable management rights maintenance, and protection of domestic companies from foreign speculative capital.”
Na also stated, “Last year, when I was floor leader, I tried to ease the inheritance tax burden for business succession at least for small and medium-sized enterprises, but the Democratic Party side was lukewarm, and the discussion eventually fizzled out,” emphasizing, “What the political circles need to consider is the path to making the country ‘good for business.’”
She further said, “We must correct the practice of undermining corporate autonomy by wielding political power, interfering in management rights using pension funds as weapons, and enacting harmful economic laws that only benefit speculative capital,” adding, “Moreover, we need to start a rational discussion on inheritance tax rates.”
Na concluded, “I will never forget Chairman Lee’s great entrepreneurial spirit. Once again, I pray for the repose of the deceased,” and criticized, “How can politicians from the ruling party be so stingy in their evaluation of Chairman Lee and Samsung’s great achievements? Representative Lee Nak-yeon, who served as governor and prime minister, did not act like the leader of the ruling party. I feel saddened by the ‘meanness’ of immediately issuing criticism as soon as the deceased passed away.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
