After Launching Stock Committee, Party Visits Financial Investment Association
From Street Rallies and Filibusters to Emphasizing Livelihood and Policy-Oriented Image
The People Power Party's "Stock and Digital Asset Value-Up Special Committee" was launched on September 29. The committee aims to develop practical policies related to stocks and virtual assets, targeting the sentiments of individual investors. The party also plans to push for a revision of the tax law to lower the dividend income tax rate on stocks from the current 14% to 9%.
On the morning of the same day, the People Power Party approved the establishment of the "Stock and Digital Asset Value-Up Special Committee" during the Supreme Council meeting. The first meeting of the special committee is scheduled for October 10, immediately after the Chuseok holiday.
Jang Donghyuk, leader of the People Power Party (center), is seated with attendees for a commemorative photo at the People Power Party Capital Market On-site Meeting held on the 29th at the Korea Financial Investment Association in Yeouido, Seoul. Photo by Yonhap News Agency
Kim Sanghoon, a four-term senior lawmaker, has been nominated as the chair of the special committee. Assemblyman Kim is considered a policy expert within the party, having previously served as the chair of the Planning and Finance Committee and the Policy Committee.
Other members appointed to the committee include Assembly members Kim Eunhye, Kim Jaeseop, Ko Dongjin, Park Sumin, and Choi Boyoon from the People Power Party. Additional external experts will be appointed in the future.
Through this special committee, which reports directly to the party leader, the People Power Party aims to revitalize the stock and virtual asset markets and restore public trust. In addition to easing the criteria for separate taxation of dividend income, the party is expected to focus on the virtual asset sector. Assemblyman Kim stated, "The domestic stock market has been sustained without clear positive factors, mainly due to expectations of interest rate cuts," emphasizing, "We must stimulate the capital market through measures such as separate taxation of dividend income."
In the afternoon, party leader Jang Donghyuk and other party executives visited the Korea Financial Investment Association in Yeongdeungpo-gu, Seoul, continuing their efforts to appeal to individual investors. During a meeting on capital market issues, Jang announced plans to revise the tax law to lower the dividend income tax rate on domestic stocks from the current 14% to 9% for annual dividend income of up to 20 million won.
Jang stated, "We will implement separate taxation for all domestic stock dividend income and lower the tax rate," adding, "For those subject to comprehensive taxation with annual dividend income exceeding 20 million won, who were previously taxed at a progressive rate of up to 45%, we will dramatically reduce the maximum rate to 25%."
With the Chuseok holiday approaching, the People Power Party appears to be working to highlight its image as a party focused on people's livelihoods and policy. Despite having raised the level of confrontation with the ruling party to its peak through two rallies outside the National Assembly in Daegu and Seoul, as well as consecutive filibusters (unlimited debates) in the National Assembly, the party seems to believe that these efforts have not been sufficient to garner strong public support.
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