Tag: capital gains tax

capital gains tax

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Tax overhaul backlash tests policy control (KOR)

Public opposition to Korea's tax reform plan is intensifying as confusion, political discord and questions over enforcement force the government to reconsider key measures.

2026.8.11

Tax overhaul backlash tests policy control

Public opposition to Korea's tax reform plan is intensifying as confusion, political discord and questions over enforcement force the government to reconsider key measures.

2026.8.10

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Apartment complexes are seen from a mountain in Jung District, central Seoul, on Feb. 23. [NEWS1]

Cabinet approves revision to law to resume heavier capital gains tax on owners of multiple homes

The Cabinet on Tuesday approved a revision to the enforcement decree of the Income Tax Act that will end a temporary exemption from heavy capital gains taxes for owners of multiple homes.

2026.2.24

President Lee Jae Myung speaks during a meeting at the Blue House in central Seoul on Jan. 29. [JOINT PRESS CORPS]

Lee signals strong resolve to end exemption of heavy capital gains taxes for multiple home owners

President Lee Jae Myung on Sunday reaffirmed his strong resolve to end the temporary suspension of the higher capital gains tax for multiple home owners to curb the overheating trend of the housing market.

2026.2.1

President Lee Jae Myung, right, speaks during a Cabinet meeting at the Blue House in central Seoul on Jan. 27. [JOINT PRESS CORPS]

Lee slams 'slow' parliament as enhanced tax collection bill joins stack of stalled legislation

President Lee Jae Myung expressed regret Tuesday over the National Assembly’s lethargic handling of government policy legislation to improve the collection of taxes, calling it an impediment to “getting work done.”

2026.1.27

Korea withdraws capital gains tax hike plan after investor backlash

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.

2025.9.15

First Vice Minister of Economy and Finance Lee Hyoung-il, center, delivers a detailed briefing on the 2025 tax reform plan on July 29. [YONHAP]

Tax reform plan triggers dilemma between market momentum and fiscal expansion

A proposal in parliament to revamp corporate and investor tax laws in a bid to drum up revenue shook the local markets last week, underscoring the dilemma facing the Lee Jae Myung administration in seeking to boost the Kospi but balance the books.

2025.8.5

First Vice Finance Minister Lee Hyoung-il, center, speaks with a staff member during a party-government consultation meeting on tax reform held at the National Assembly members' office building in Yeouido, western Seoul, on July 29. [NEWS1]

Top office, DP agree to raise corporate tax rate to 25%

The Lee Jae Myung administration and the ruling Democratic Party agreed Tuesday to raise the corporate tax rate and lower the threshold for capital gains tax on large corporate shareholders, effectively reversing the previous government's tax cuts.

2025.7.29

Democratic Party leader Lee Jae-myung speaks during a National Assembly meeting Monday. During the meeting he said he agrees to scrap the long-debated plan to impose capital gains tax. The proposed policy was set to take effect from next year. [NEWS1]

DP agrees to scrap capital gains tax as stock market struggles

Democratic Party (DP) leader Lee Jae-myung announced Monday that the party has agreed to abolish the capital gains tax, aligning with the government’s push to remove it.

2024.11.4

Rep. Park Sung-joon of the liberal Democratic Party, left, and Rep. Bae June-young of the conservative People Power Party shake hands after they agreed to establish a joint consultative body with the government to discuss livelihood issues during a meeting at the National Assembly in Yeouido, western Seoul, on Thursday. [YONHAP]

Rival parties agree to cooperate on livelihood bills even as partisan rift persists

Korea’s two main parties agreed on Wednesday to work together to pass bills on livelihood issues where there is bipartisan agreement, even as they remain at loggerheads over other controversial legislation.

2024.8.8