Korea Vows to Abolish Planned Capital Gains Tax on Investments
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South Korean President Yoon Suk Yeol pledged to scrap the planned capital gains tax on income from financial investments in a bid to boost investor sentiment and stock values.
The equity markets are “significantly undervalued” even though the country boasts of companies with global competitiveness, Yoon said at an opening ceremony of the 2024 stock market Tuesday, according to his office.