Photo : YONHAP News
President Yoon Suk Yeol has reiterated earlier calls to abolish the financial investment income tax, calling on rival parties to join forces to prevent its introduction in 2025 as scheduled.
The president made the request Tuesday during a Cabinet meeting at the presidential office and said the government will accelerate the implementation of its “corporate value-up” policy to boost the valuation of the stock market and invigorate the capital market.
Yoon said that as part of the efforts, the government will provide various incentives for shareholder-friendly companies with the aim of creating a virtuous cycle, in which companies increase their value and investors enjoy greater profits and opportunities to build assets.
The tax was originally set to be introduced last year but was delayed until the start of 2025.
The president also instructed the government to prepare for the lifting of a temporary ban on short selling, set for March 2025.