Capital Gains Tax Surcharge Concern: Land Minister Says Government Will Be Different

Minister of Land, Infrastructure and Transport Kim Yoon-duk addressed concerns on May 10 through social media that restarting the capital gains tax surcharge could lead to a freeze in property listings. Kim said, “There are loud concerns about listings being locked up after the capital gains tax surcharge resumes, but the People’s Sovereignty Government will be different and must be different.” The surcharge is drawing market attention because it can directly affect homeowners’ selling decisions and the flow of listings. His remarks appear to respond to concerns that the policy restart could reduce available supply. Source: mk.co.kr