Tag: Tax reform

Tax reform

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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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Tax overhaul is pushing tenants out as landlords to move in

Where once buying was increasingly out of reach, now renting is spiraling out of control as deductions are set to shift to favor occupancy over mere ownership.

2026.8.9

Han Jeoung-ae, Democratic Party's top policymaker, speaks during a briefing at the National Assembly in Yeouido, western Seoul, on Feb. 1. [YONHAP]

DP considers real estate tax reforms amid housing market concerns

The Democratic Party (DP) hinted at real estate tax reforms on Sunday after President Lee Jae Myung urged multi-homeowners to sell their properties and pointed to available policy options to stabilize housing prices.

2026.2.1

The Kospi is seen closing at 3,407.31 points, up 11.77 points, or 0.35 percent, from the previous trading day, at a Hana Bank dealing room in central Seoul on Sept. 15. [YONHAP]

Kospi's all-time high precarious as political, corporate policy threaten confidence

The Kospi has soared 25.8 percent in President Lee Jae Myung’s first 100 days, climbing to 3,407.31 on Monday to set a record high, but the momentum is precarious with the heavy influence of political and corporate policies.

2025.9.15

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 3,147.75 points on Aug. 4, up 28.34 points, or 0.91 percent, from the previous trading session. [YONHAP]

Government faces backlash over proposed changes to major shareholder capital gains tax threshold

The government’s recent tax reform — tougher taxes on the stock market — is sparking strong backlash from retail investors.

2025.8.4

Conservative People Power Party (PPP) interim leader Kwon Young-se, center, speaks at the National Assembly in western Seoul on March 6. [YONHAP]

PPP leader vows to abolish inheritance taxes for surviving spouses

Conservative People Power Party (PPP) interim leader Kwon Young-se said Thursday that his party will “abolish” inheritance tax for the transfer of assets from a deceased individual to their surviving spouse.

2025.3.6

A post office in Gangnam on Nov. 23 prepares to send out comprehensive real estate holding tax bills to apartment owners. This year, those charged the real estate holding tax for the first time exceeded 1 million, 8.1 percent of all residential real estate owners. [YONHAP]

DP accepts changes to comprehensive real estate tax law

Owners of two apartments in designated areas had been paying 1.2 percent to 6 percent, which is charged to people with three or more apartments everywhere in Korea. Under the proposal, it will be reduced to the lower rate of 0.6 to 3 percent.

2022.12.12

Finance Minister Choo Kyung-ho, left, and Korea Enterprises Federation Chairman Sohn Kyung-shik attends the Tax System Development Deliberation Committee meeting held at the Bankers Club in Meyong-dong, Seoul on Thursday. [YONHAP]

Yoon tax plan designed to help the people and the economy

Tax reforms being pushed by the administration are designed to undo the damage done by the previous administration's tax policies, the Yoon Suk-yeol government says.

2022.7.21

People Power Party's floor leader Kweon Seong-dong, left, and Finance Minister Choo Kyung-ho during a meeting on Monday at the National Assembly in Seoul. [JOINT PRESS CORPS]

Taking the ax to taxes is the focus of a bill being drafted

Since taking office in May, the Yoon Suk-yeol government has been pushing strongly for lowering the corporate tax from 25 percent to 22 percent.

2022.7.18