The Democratic Party of Korea proposed giving tax benefits when a multi-home owner who sold real estate invests in stocks. Lee Eog-weon, chairperson of the Financial Services Commission (FSC), said it could be an excessive benefit.
Kim Hyun-jung of the Democratic Party of Korea said at the National Policy Committee's full meeting on Feb. 5 in the morning, "To actively push the policy of 'from real estate to stocks,' I want to propose that when a multi-home owner sells real estate and invests in stocks, we provide benefits," adding, "A method of partially reducing capital gains tax could be considered."
Kim added, "We can find similar examples overseas, including in the United States and the United Kingdom."
Lee said, "I fully agree with the intent of circulating funds from real estate to the capital market," but explained, "However, it could be seen as an excessive benefit for multi-home owners, so I believe social debate is needed."