After the governing People Power Party (PPP) proposed to scrap the financial investment income tax, the majority Democratic Party (DP) vehemently opposed the idea.
After the governing People Power Party (PPP) proposed to scrap the financial investment income tax — a 20 percent tax on capital gains up to 50 million won ($36,337) from stock investments — the majority Democratic Party (DP) vehemently opposed the idea, saying it will only help fatten the belly of the rich. The people are clueless about the future direction of the income tax. [PARK YONG-SEOK]
