Korea withdraws capital gains tax hike plan after investor backlash
Published: 15 Sep. 2025, 08:15
Updated: 15 Sep. 2025, 09:09
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- JIN MIN-JI
- [email protected]
Korea is withdrawing a controversial capital gains tax hike proposal for stock investments after it sparked fierce criticism from investors, ending the Kospi's monthslong rally.
The Ministry of Economy and Finance announced on Monday that it would scrap the plan to raise the capital gains tax threshold on stock holdings from 5 billion won ($3.6 million) to 1 billion won, which gained more than 135,000 signatures on a petition on the National Assembly’s website after the reform was announced at the end of July.
The latest decision was made “in consideration of the public’s strong desire to revitalize the capital market,” the ministry said in a statement.
BY JIN MIN-JI [[email protected]]
with the Korea JoongAng Daily
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