[Breaking News] Presidential Office: "It's not easy to reconsider our policy based solely on one or two days of stock fluctuations"

Q&A Regarding Adjustment of Major Shareholder Capital Gains Tax Criteria

"Able to Fully Gather Diverse Opinions"

Kang Yoo-jung, spokesperson for the presidential office, stated on the 5th regarding the criteria for major shareholder capital gains tax, "It is a basic opinion that it would be difficult to reconsider a policy solely based on one or two days' fluctuation in stock prices, when it comes to transforming the structure of the stock market." Kang further denied media reports suggesting that "the presidential office could reconsider the issue based on opinions from within the party."

At the presidential office briefing in Yongsan, Kang stated, "Lee Jae-myung's administration is implementing measures to structurally strengthen the health of the Korean stock market." Kang also addressed a News1 report indicating that "the presidential office requested the Democratic Party leadership to gather and deliver internal opinions on strengthening the requirements for major shareholder capital gains tax, stating that there was no such 'reconsideration' or 'request' from the presidential office."

However, Kang added, "If the ruling party or many others share their opinions, we will listen," emphasizing, "It is a fundamental position that a wide range of legislative and policy issues can take into account opinions from the ruling party." Kang reiterated, "If the party prepares a proposal, we are fully willing to listen."

Journalist: Han Jae-young jyhan@hankyung.com