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Investor-Tax Hike Plan Faces Growing Opposition in South Korea

Investor-Tax Hike Plan Faces Growing Opposition in South Korea

Bloomberg4 days ago
A plan to hike the capital gains tax is facing growing opposition in South Korea, where the proposal caused a sudden slump in stock prices on Friday. The benchmark equity index Kospi rose on Monday.
More than 120,000 people have signed a petition to stop the plan that was announced late Thursday, a sign of momentum building against one of President Lee Jae Myung's key domestic policy proposals. Comfortably over the 50,000 signatures needed to make it successful, the petition now heads to review by a parliamentary committee, in a test of the ruling party's resolve to see it through.
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