Handonghun "We can have constructive discussions after abolition"
Chukyungho "It's absurd for the Democratic Party to stall time"
Han Dong-hoon, the leader of the People Power Party, argued that the financial investment income tax (Geumtu Tax) should be abolished to revitalize the domestic capital market and stock market, thereby shedding the stigma of being a real estate republic. He urged the Democratic Party, which has not yet decided its stance on the Geumtu Tax, to join in the abolition.
On the 26th, at the Supreme Council meeting held at the National Assembly, Han said, "If the stock market, which is abnormally undervalued and only shows growth comparable to regular savings deposits, becomes an attractive investment destination, funds currently concentrated in real estate will naturally move." He added, "This can give young people hope for asset growth. We will stand with 14 million investors until the end."
Han also said, "Something strange happened during the Democratic Party's Geumtu Tax discussion the day before," adding, "It did not seem to be a discussion aimed at persuading the public. There were even instances of shouting and threatening towards individual investors who came to observe the debate." He continued, "The People Power Party advocates for the complete abolition of the Geumtu Tax. The Democratic Party holds an absolute majority, doesn't it? After abolition, constructive discussions can take place. Proposing a postponement will only increase uncertainty and lead to the worst outcome."
Choo Kyung-ho, the floor leader of the People Power Party, also criticized the Democratic Party for failing to reach a conclusion at the Geumtu Tax debate the previous day. Choo said, "The Democratic Party says it will gather internal opinions for another month," and criticized, "While individual investors have been persistently demanding abolition, what have they been doing until now that they now leisurely want to delay for a whole month? It's outrageous."
He added, "The Democratic Party is increasingly heightening market uncertainty, while Leader Lee Jae-myung remains silent on the Geumtu Tax," and said, "Regardless of what happens to the stock market, he only considers his political gains and losses. I hope Leader Lee will promptly clarify his stance on the Geumtu Tax."
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