South Korea’s Financial Overhaul Includes Ending Capital Gains Tax

• South Korea to address the abolition of capital gains tax on Dec. 10.  
• The Financial Supervisory Service backs policies for capital market growth.  
• DPK prioritizes financial investment tax reform during the year-end session. 

South Korea’s Democratic Party of Korea (DPK) is moving to abolish the capital gains tax on financial investments, with a decision expected during the National Assembly’s final regular session on December 10. The proposal is part of a larger effort to strengthen the country’s financial markets and stimulate economic growth.

Governor Lee Bok-hyun of the Financial Supervisory Service (FSS) voiced strong support for this plan, highlighting its potential to attract global investors and bolster South Korea’s competitive edge in global finance.

Major Reforms on the Agenda for National Assembly

December 10 marks the last regular session of the National Assembly for 2024, setting the stage for significant financial policy changes. A DPK spokesperson emphasized that removing the tax could enhance investor confidence and drive domestic investment.

Read also: $19B Leaves South Korean Banks—Heading Straight to Crypto and Stocks

The post South Korea’s Financial Overhaul Includes Ending Capital Gains Tax appeared first on Coin Edition.