Korea’s Influential ‘Ants’ to Rally Against Capital Gains Tax
- Retail investors to hold candlelight protest Saturday
- The main opposition party wants capital gains to be levied
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South Korea’s retail investors are trying to exert their influence on the country’s stock market policies, having tasted success in their last campaign.
Dubbed as “ants” for their ability to influence policies when they act as a group, the individual investors are backing a proposal by President Yoon Suk Yeol’s administration to scrap a capital gains tax imposed on financial investments. The main opposition Democratic Party opposes the abolition of the levy, saying such a move would favor the rich and weaken the government’s coffers.