Koo Yun-cheol: "Supplementary plan on heavier capital gains tax for multiple-home owners to be announced next week"

[Financial News] The government plans to announce next week supplementary measures related to the end of the temporary suspension of heavier capital gains tax on multiple-home owners.
Koo Yun-cheol, Deputy Prime Minister and Minister of Finance and Economy, stated on the 5th via a social networking service (SNS), "We will end the temporary suspension of heavier capital gains tax on multiple-home owners, but next week we will announce supplementary measures to minimize inconvenience for the public, including for homes currently being rented out."
Koo added, "We will firmly establish a housing market focused on residence rather than investment," and continued, "In recent days, the number of real estate listings in Seoul has been increasing. This is welcome news."
The government has decided to end the temporary suspension of heavier capital gains tax on multiple-home owners on May 9. However, it is considering allowing an additional three to six months for payment and registration for transactions in designated adjustment areas, as long as the sales contract is completed by May 9.

syj@fnnews.com Seo Young-jun Reporter