South Korea's president scraps plan to expand tax on stock investments

11/9/2025 13:04

South Korean President Lee Jae Myung said on Thursday he did not see a need to follow through on a plan to revise the country's capital gains taxes intended to boost tax revenue from stock investors and that he would leave it up to parliament to decide.



Lee told a press conference he now considered it unnecessary to lower the threshold defining "large shareholders" subject to paying capital gains tax. The planned tax change has caused a public backlash among many South Korean investors.



"If it causes damage to the stock market, I don't think it is necessary to lower the threshold to 1 billion (won) from 5 billion," Lee said, reaffirming the administration's will to pursue reforms to revitalise the market.



He said he would leave the decision to parliament, currently reviewing the proposal, as both the ruling Democratic Party and the main opposition People Power Party agree that the threshold should remain unchanged.