Traders Welcome Korea Inheritance Tax-Cut Bid to Help Stocks (1)

South Korea’s bid to lower its inheritance tax rate for the first time in decades is a welcome move that could help stimulate the economy and stocks, according to investors.

The step, which requires approval of the opposition-controlled parliament, would mark the first reduction of the nation’s inheritance tax rate since 1995 and benefit the families that control major firms from Samsung Electronics Co. to Hyundai Motor Co.

South Korea’s finance ministry is also seeking endorsement of sweeping tax breaks. Some of those benefits are intended to encourage a change in behavior at listed firms. President Yoon Suk Yeol’s administration’s ...