Yoon Seok-yeol, the presidential candidate for People’s Strength, announced on the morning of the 27th that he would completely abolish capital gains tax on all stock transactions. The news came as US Federal Reserve Chairman Jerome Powell mentioned the possibility of a US interest rate hike in March and the US and domestic stock markets continued to fall. Candidate Yoon’s side in particular put forward the title of protecting ant investors, but it is expected that the big loss tax cut will be abolished together with stock holders of more than 1 billion won and the capital gains tax of major shareholders.
The pledge to abolish the transfer tax was announced as a combination play between Candidate Yoon Seok-yeol and Director Won Hee-ryong of the People’s Power Election Countermeasures Headquarters. On the morning of that day, when Candidate Yoon disclosed a short line of promise on Facebook just before the election meeting and the floor leadership meeting, General Manager Won Hee-ryong, who usually did not speak well, raised his hand in his turn. At that time, the moderator called Jae-wook Yoon to the next order, but changed his turn when Director Won raised his hand. Director Won said, “I don’t usually do it every day,” he said. “As you can see if you look at Candidate Seok-Yeol Yoon’s Facebook page now, he just announced a seven-letter pledge to abolish the stock transfer tax.”
Director Won said, “The announcement was made entirely by the candidate, but in fact, it is a matter that our policy headquarters and others have been examining in depth, so I will use today’s meeting to give a minimal explanation to the questions of the Korean people and the media.”
Director Won said, “The stock transfer tax will be completely abolished.” “Currently, the stock transfer tax is levied on the gains from the transfer of stocks in one stock. ” he explained.
He added, “With the amendment of the current 180 seats of the Democratic Party, tax will be imposed on all gains from transfers, regardless of stocks, from 2023.
Director Won said, “Our young generation and Donghak ants in their 40s and 50s are unable to sleep at night due to the slump in domestic and foreign stock markets. The capital gains tax will be completely abolished in order to protect ant investors who have their dream of investing in the stock market,” he emphasized.
Still, it seems to be conscious of the stock market’s big tax cut controversy. will be taxed,” he added.
The logic is that if the transfer tax is imposed on all stock transactions, investors will escape to foreign markets and the Korean stock market will accelerate, which will eventually lead to losses for ant investors.
Regarding this, Director Won said firmly, “Candidate Seok-Yeol Yoon’s position is that the transfer tax will be completely abolished regardless of the major shareholder’s stake or the amount he holds.”
Lastly, Director Won said, “We will design and prepare a taxation system for advanced countries, and we will introduce it after the stock market is stable and the Korea discount has been significantly overcome. I promise to the people that the tax on individual stock transfer gains will be completely abolished.”
The process of announcing the abolition of the on-off Combiplay stock transfer tax aimed at the dramatic effect of Director Won Hee-ryong can be seen in the video.
