Choo Kyung-ho "It is difficult to abolish the comprehensive real estate tax immediately"

On the 2nd, Choo Kyung-ho, the nominee for Deputy Prime Minister and Minister of Economy and Finance, attended the confirmation hearing held at the National Assembly and put on his mask immediately after finishing his remarks. Photo by Yoon Dong-joo doso7@

[Asia Economy Sejong=Reporter Kwon Haeyoung] On the 2nd, Chu Kyung-ho, the nominee for Deputy Prime Minister of Economy and Minister of Strategy and Finance, stated that "it is difficult to abolish the comprehensive real estate tax immediately."

At the confirmation hearing held at the National Assembly on the same day, Chu said regarding the reform of the comprehensive real estate tax, "It is time to study and discuss the integration with property tax," but added, "However, this is not a matter to be done in the short term and should be reviewed under sufficient research."

He also said, "I understand that the current government used tax policies to stabilize the real estate market, but I think it was excessively overdone," and added, "Normalization is necessary, and I will review both the comprehensive real estate tax and capital gains tax together."

Regarding the reconstruction of the first-generation new towns, Chu stated, "There is currently a strong demand related to the aging of housing and improvement of residential environments," and emphasized, "It should be promoted promptly as originally promised." However, he added, "There are practical issues," and said, "A special law on the maintenance of first-generation new towns has been submitted to the National Assembly, and I think it is appropriate to incorporate the hopes of local residents as much as possible while making institutional and legal improvements."

Furthermore, on the three lease laws, he expressed the view that "If the system is unfair and is overturned all at once, it could cause confusion, so we need to observe the market situation and prepare supplementary measures."