Democratic Party Supreme Council Meeting on the 7th
Lee Acknowledges Validity of Abolishing Spousal Inheritance Tax
"Ruling Party Should Not Attach Additional Conditions"
Lee Jae-myung, leader of the Democratic Party of Korea, stated that he agrees with the People Power Party's proposal to abolish the spousal inheritance tax as a party policy and urged for the swift processing of the reform plan.
Lee Jae-myung, leader of the Democratic Party of Korea, is speaking at the Supreme Council meeting held at the National Assembly on the 7th. 2025.3.7 Photo by Kim Hyun-min
At the Supreme Council meeting held at the National Assembly in Yeouido on the 7th, Lee said, "The Democratic Party also agrees with the People Power Party's proposal to abolish the spousal inheritance tax, so I hope they will not attach conditions such as tax cuts for the ultra-wealthy and will process the inheritance tax reform plan promptly."
The People Power Party decided to promote the abolition of the spousal inheritance tax as a party policy at the National Assembly's floor strategy meeting that day. Kwon Seong-dong, floor leader of the People Power Party, told reporters after the meeting, "When couples divorce, property division occurs and no tax is imposed on that division. However, when a spouse passes away and inheritance occurs, spousal inheritance tax is imposed, which is quite unreasonable."
He added, "If the People Power Party submits a bill and it is discussed in the Planning and Finance Committee, there is a possibility that the Democratic Party will also change its stance positively."
In response, Lee said, "The People Power Party proposed completely abolishing the inheritance tax for spouses," and added, "Considering it as a horizontal transfer of property and taking into account property division in case of divorce, it has its own validity."
He continued, "Even now, there are unfortunate situations when parents or spouses pass away, and some may have to leave their homes due to house prices and inheritance tax," and said, "Our party has requested a fast-track (quick processing) procedure, and I propose that it be handled swiftly to prevent any unfortunate incidents."
He emphasized, "If we want to work, let's process what has been agreed upon and refrain from using obstructionist strategies that unnecessarily link unrelated issues."
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