Chairman Kim Byun-hwan: "Hope the Financial Investment Tax is Decided Quickly in the National Assembly"

Emphasis on Ending Uncertainty Surrounding Financial Investment Tax

Financial Services Commission Chairman Kim Byung-hwan is reporting on business operations during the National Assembly's Political Affairs Committee's audit of the Financial Services Commission and Korea Development Bank held on the 10th. Photo by Kim Hyun-min kimhyun81@

Kim Byung-hwan, Chairman of the Financial Services Commission, said on the 10th, "The uncertainty surrounding the Financial Investment Income Tax (Fin-Invest Tax) must be ended quickly."

At the National Assembly's Finance and Economy Committee's audit of the Financial Services Commission, in response to a question from Kang Myung-gu of the People Power Party pointing out concerns about the implementation of the Fin-Invest Tax, Chairman Kim stated, "Regardless of the actual effectiveness, the uncertainty related to the Fin-Invest Tax must be eliminated at all costs."

He added, "I hope the National Assembly will make a decision quickly."

When concerns were raised that investment funds might rapidly withdraw and the stock market could shrink further upon the implementation of the Fin-Invest Tax, Chairman Kim acknowledged, "We do have such concerns," maintaining the financial authorities' position that the Fin-Invest Tax should be abolished.