[ad_1]
The noise from the Democratic Party and the government about the ‘300 million won largest shareholder requirement’ is mounting. Currently, in the domestic stock market, only the major shareholders pay a capital gains tax (20-25%). Starting next year, the standard for major shareholders will drop from 1 billion won to 300 million won per item, increasing the number of transfer tax targets.
As controversy grows over these requirements, the ruling party urges the government to reconsider, saying: “We must not discourage individual investors called ‘Donghak ants.’ However, as Hong Nam-ki, Deputy Prime Minister for the Economy and Minister for Strategy and Finance, approached it as “a difficult decision”, the conflict is deepening. The party-political conflict, which once arose over the issue of payment for emergency assistance for the Corona 19 disaster, is also said to have entered the second round.
On the 8th, the leader of the Democratic Party, Kim Tae-nyeon, re-examined the 300 million won requirement for large shareholders at the National Audit Countermeasures Meeting. Won Nae Kim said: “I will listen to the opinion of Donghak Ant, who was the first contributor to the stock market rally, which collapsed due to Corona 19.” He then emphasized: “After gathering public opinion, we will address this issue through consultations with the party government.”
In the national audit of the National Assembly Committee of the National Assembly, a smear battle continued over the 300 million won requirement for large shareholders. “It is not correct to go because it is planned,” said a Democratic Party member of the employee staff. “If it reaches 300 million won, the number of major shareholders will increase from 10,000 to 90,000. Considering the impact they will have on the market by selling their shares, we should postpone it.” Democratic Party lawmaker Yang Hyang-ja also asked, “I don’t know why the deputy prime minister continues to insist on the 300 million won standard.”
However, Vice Premier Hong took the position that “it was not my insistence, it was decided by the revision of the law and the implementing decree in 2018.” As the investigation continued, he raised his voice and said, “I am not pursuing with any intention.” He even sighed and said: “The issue we discussed with the National Assembly two years ago.”
The opposition party also joined in the “300 million won offensive to large shareholders.” Representative Choo Gyeong-ho said: “It has been a long time since the ruling and opposition parties seem to have a similar idea. Vice Premier Hong replied: “If the National Assembly discusses legislatively, the government will also consult.” Instead, he left room for tax tightening, saying, “We will lower the transfer tax deduction limit (50 million won), which will be fully applied in 2023, and review the adjustment to the majority shareholder requirement (1%). “.
Even with the fiscal rules promoted by the Ministry of Science and Technology, the party government conflict continued. In the ruling party, comments of ‘removal of Vice Premier Hong’ even came out. Democratic Party lawmaker Kim Doo-gwan said on CBS Radio: “Now, we have to worry more about the recession than about the national debt. Most of our members of the Planning and Finance Committee are against it.” When asked, “What would I do if Vice Premier Hong said he would push for fiscal rules?” The Ministry of Science and Technology announced on the 5th that it will introduce the ‘Korean fiscal rule’, which manages the ratio of national debt to 60% of gross domestic product (GDP) from 2025.
Reporter Yang Min-cheol and Park Jae-hyun [email protected]
[ad_2]
