South Korea MOF Announces Tax Support Measures for Domestic Investment, Foreign Exchange in English

The South Korean Ministry of Economy and Finance Dec. 24 issued a press release on proposed tax measures for domestic investment and foreign exchange stability, in English. The measures include: 1) a one-year capital gains tax exemption up to 50 million South Korean won (US$34,618), for individual investors selling overseas stocks held as of Dec. 23, repatriating the proceeds, and investing in domestic equities for at least one year; 2) applying the capital gains tax reduction to overseas stocks held as of Dec. 23, where foreign exchange hedging is used; and 3) an increase to 100 percent, from 95 percent, ...