Kim Byunggi: "Party Has Conveyed Public Opinion on Major Shareholder Criteria for Stock Transfer Tax to Presidential Office"

Kim Byunggi: "Discussions Under Close Cooperation"
"Difference in Sentiment Between West Yeouido and East Yeouido"
Ahn Dogeol: "Proposal to Base Criteria on Total Holdings"

Kim Byunggi, Floor Leader of the Democratic Party of Korea, announced on August 6 that he had conveyed the party's position regarding the criteria for major shareholders subject to capital gains tax on stocks. Kim stated, "Contrary to some misunderstandings, the party has communicated its opinion to the presidential office, and we are now waiting for a response."

Appearing on a YouTube broadcast that day, Kim addressed the government's tax reform plan, which would tighten the criteria for major shareholders subject to capital gains tax from 5 billion won per stock to 1 billion won per stock. He said, "The party is conveying the sentiments and opinions of the public," and explained the party's stance.

On August 1, Kim posted on social media, "There are many concerns and worries regarding the tax reform plan," and added, "We will examine the possibility of raising the 1 billion won major shareholder threshold, focusing on the party's 'Tax Normalization Special Committee' and 'KOSPI 5000 Special Committee.' We will focus on resolving investor distrust through close consultations between the party and the government."

Kim Byunggi, Floor Leader of the Democratic Party of Korea, Yonhap News

Regarding this, Kim explained, "We said we would review the issue again because of the controversy, and both the 1 billion won and 5 billion won criteria are under discussion," adding, "The party, the government, and the presidential office are discussing the matter in close cooperation."

Kim further commented, "If we quickly change a decision made by the government and the presidential office, it will only cause more confusion, so for now, we must proceed according to whether the policy is maintained or amended," and added, "The presidential office is taking a thoughtful stance on what to do."

He also remarked, "It seems there is a significant difference in sentiment between West Yeouido and East Yeouido." This is interpreted to mean that there is a difference in perspective between West Yeouido, symbolizing the political sphere, and East Yeouido, representing investors.

Meanwhile, Democratic Party lawmaker Ahn Dogeol, during a National Assembly Strategy and Finance Committee inquiry that day, argued that the criteria for major shareholders subject to capital gains tax should be based on total holdings rather than on a per-stock basis. In response, Deputy Prime Minister and Minister of Economy and Finance Koo Yooncheol replied, "We will review this matter at the working level."

This content was produced with the assistance of AI translation services.