Now is not the time for South Korea to tax stock trading profits

Capital gains levy should be delayed until broader reform plan is ready

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20240626 kospi

Opponents of South Korea's capital gains tax argue that the stock market is in no position to withstand the potential negative consequences, given the uncertain economic climate. © AP

Hun Park is a professor of tax law at the University of Seoul.

The resounding defeat of President Yoon Suk Yeol's People Power Party in South Korea's recent parliamentary election has cast doubt his proposal to further delay the start of a new tax on profits from the trading of stocks, bonds and other financial assets.

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