Hong Nam-ki: "No Plans to Ease Capital Gains Tax for Multi-Homeowners" (Comprehensive)

Hong Nam-ki, Deputy Prime Minister for Economic Affairs, is attending the government economic sector questioning session held at the National Assembly plenary session on the 15th, responding to questions from lawmakers. Photo by Yoon Dong-joo doso7@

Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki stated, "There are absolutely no plans to ease capital gains tax for multi-homeowners." On the afternoon of the 15th, during a National Assembly interpellation session, Hong made this remark in response to a question from Park Jung, a member of the Democratic Party of Korea, who asked about the stance on lowering capital gains tax for multi-homeowners, saying it does not align with tax justice.

Hong Nam-ki said, "However, the issue of easing capital gains tax for single-homeowners is currently pending in the National Assembly's Finance Committee," adding, "There are various differing opinions, but we plan to work closely with the National Assembly to discuss and negotiate."

When asked about the claim by Kim Ki-hyun, the floor leader of the People Power Party, that easing capital gains tax for multi-homeowners would lead to an increase in housing supply in the metropolitan area, Hong responded, "The general assessment is that it is highly uncertain whether the supply will actually increase."

Regarding the policy direction on mortgage loan regulations, Hong Nam-ki said, "In the second half of the year, it should be understood that loan regulations will be strengthened compared to the first half," and added, "We will carefully manage so that the loan threshold does not suddenly rise for actual homebuyers or those without homes."

On the claim that the "Three Lease Laws" are the cause of the jeonse crisis, he said, "The original intent was to protect tenants and ensure transparency in the monthly and jeonse rental market, and it cannot be denied that these effects have been realized." However, Hong also acknowledged, "It is true that some issues have been exposed during the process," and stated, "The government plans to devise multifaceted alternatives."