The South Korean Ministry of Strategy of Finance has published a release announcing a decision to suspend enforcement of the reduction in the maximum ownership threshold for the capital gains exemption on listed shares from 25% to 5%, which was included as part of the 2018 tax reform. The decision to suspend enforcement is a result of strong opposition from the financial investment industry, and in particular securities firms, which expressed that the change would have a negative impact on investment and that it would be technically difficult to apply the stricter requirement for withholding. The Ministry plans to further review the change to address the concerns later in the year.
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