Choi Sang-mok "Financial Investment Tax, As Market Wants... Uncertainty Must Be Resolved"

Meeting with Chungnam National University Stock Investment Club

Choi Sang-mok, Deputy Prime Minister for Economy and Minister of Strategy and Finance, stated on the 9th that a swift discussion is necessary regarding the abolition of the financial investment income tax, emphasizing that "uncertainty should be resolved in the direction the market desires."

On the same day, during a meeting with the Chungnam National University Securities Investment Club (SIRT) at the Chungnam National University Central Library Media Zone, Deputy Prime Minister Choi said, "To protect 14 million stock investors, we have announced the policy to abolish the financial investment income tax since the beginning of the year and submitted a tax law amendment bill to promote it, but uncertainty still persists even though less than four months remain until implementation."

Choi Sang-mok, Deputy Prime Minister for Economy and Minister of Strategy and Finance (far right), sharing stock investment opinions with students at Chungnam National University Central Library / Photo by Ministry of Strategy and Finance

Deputy Prime Minister Choi stated, "In the past five years, the number of stock investors under their 20s has increased nearly sixfold, and there is also a survey showing that the number one financial product of interest among students is stock investment," adding, "The stock market has established itself as a major asset formation means for youth and university students."

He continued, "Seven out of ten university student investors invest in overseas stocks, and among them, 89% are increasing their proportion of overseas stock investments," emphasizing, "In the global capital market environment, it is a crucial time to provide policy support to enhance the investment attractiveness of our capital market for future generations."

He also explained, "To this end, we are actively promoting not only the Value-Up Program but also the abolition of the financial investment income tax and the expansion of support for Individual Savings Accounts (ISA) from a tax perspective."