Koo Yoon-cheol "Will maintain the major shareholder threshold for stock transfer tax at 5 billion won"

Deputy Prime Minister and Minister of Economy and Finance Koo Yoon-cheol said on the 15th that the major shareholder threshold subject to stock transfer tax will be maintained at the current 5 billion won.

Koo told the 'Chuseok Livelihood Stabilization Measures Party-Government Meeting' held at the National Assembly that "this policy was decided after comprehensively considering the public's desire for capital market revitalization and the Democratic Party of Korea's position that maintaining the major shareholder threshold is necessary," announcing this stance.

He said, "After announcing the tax reform plan in July, there was much deliberation between the need to normalize taxation and the need to revitalize the capital market regarding the major shareholder threshold for stock transfer tax," and added, "The government will continue to do its utmost to support the growth of companies and the national economy through capital market revitalization and productive finance."

Earlier, the Ministry of Economy and Finance had proposed a tax reform plan to strengthen the per-stock shareholding threshold for major shareholders from 5 billion won to 1 billion won, but it was criticized by some as a move that runs counter to the Lee Jae-myung administration's 'KOSPI 5000' era policy.

Shin Min-kyung, Hankyung.com reporter radio@hankyung.com