Handonghun "Financial Investment Tax Abolition Almost Here... Asking Democratic Party to Cheer Up More"

"No One Will Mock Us for Changing Our Position... A Choice for the People"
Democratic Party Likely to Decide on Abolition or Postponement at Morning Meeting

Han Dong-hoon, leader of the People Power Party, urged the Democratic Party of Korea to adopt the abolition of the financial investment income tax (Geumtu Tax) as their party policy.

On the 4th, Han Dong-hoon, leader of the People Power Party, visited the protest site in front of the National Assembly main gate where organizations including the Korea Stock Investors Association were demonstrating for the abolition of the financial investment income tax, and shouted slogans together with the participants. Photo by Heo Young-han younghan@

On the morning of the 4th, at a rally held by the Korea Stock Investors Association in front of the National Assembly main gate, Han said, "The abolition of the Geumtu Tax is almost here," adding, "Please understand that the very act of abolishing the Geumtu Tax is a sign that our politics has stepped up to value-up and normalize the Korean stock market."

He continued, "Abolishing the Geumtu Tax and postponing it are different matters. (If postponed,) it destroys investors' predictability," and emphasized, "I ask the Democratic Party to make a little more effort. Aren't they going to change their stance anyway?" He added, "While changing, I hope they make the choice that the 14 million investors truly want," and said, "No one will mock you for changing your position. This is a choice for the country, the people, and the investors."

As the Democratic Party planned to decide on either abolishing or postponing the Geumtu Tax at a party meeting that morning, Han appeared to pressure the Democratic Party to reach a consensus on 'abolition.' The Democratic Party leadership is reportedly leaning toward postponement. However, abolitionist views are also emerging within the Democratic Party.