Lee: "Considering extending capital gains tax relief for multiple-home owners to permit applications filed by May 9"

According to The Financial News, President Lee Jae-myung on the 6th ordered a review of supplementary measures to the suspension of the capital gains tax surcharge for multiple-home owners, which is set to expire on May 9. He said, "I am thinking that we could allow cases where applications for approval have been filed by May 9." He also raised the issue of single-home owners seeking to sell homes that currently have tenants, and instructed officials to consider revising the enforcement decree. During the Cabinet meeting that day, President Lee also stressed the need for swift execution of the war-related supplementary budget, a partial and phased constitutional amendment, and measures to prevent a recurrence of the recent civilian drone incident.
In his opening remarks at the 14th Cabinet meeting and the fourth Emergency Economic Review Meeting held at the main building of Cheong Wa Dae, President Lee said, "The suspension of the capital gains tax surcharge for multiple-home owners is set to expire on May 9." He continued, "Because it has been understood that approvals must be completed and contracts signed by May 9, people seem to think that it will no longer be possible to sell after mid-April." He went on, "We should keep the May 9 deadline, but I am wondering whether we could allow cases where applications for approval have been filed by May 9," adding, "If necessary, please review whether to clarify the interpretation or to amend the relevant regulations."
President Lee also addressed the situation of single-home owners who want to sell homes that are currently rented out. He said, "There are many objections from single-home owners who say, 'We want to sell the homes we are renting out, so why are we not allowed to, and why are benefits given to multiple-home owners while single-home owners are put at a disadvantage?'" He instructed officials, "Please make an objective judgment as to whether the effect of increasing demand would be greater, or whether the effect of increasing supply would be greater, and review a revision of the enforcement decree in light of the fact that the arguments of single-home owners are quite reasonable." He added, "It would be good if you could enable a decision to be made by the next Cabinet meeting."
On the supplementary budget, he emphasized preparation for actual execution rather than simply speeding up the process. President Lee said, "The same applies to the review of the war-related supplementary budget," and noted, "Just as important as shortening the deliberation period is the actual execution." He went on, "Please make thorough advance preparations so that, as soon as the supplementary budget is passed, the funds can be executed efficiently in the shortest possible time."
On the issue of constitutional amendment, he reaffirmed his stance in favor of a partial and phased approach. President Lee stated, "In the current situation, trying to resolve every issue at once is no different from repeating the same failures," and argued, "It is only natural to pursue constitutional amendment in a partial and step-by-step manner, starting with specific issues on which there is already sufficient public consensus." As priority items, he cited including the May 18 Democratization Movement and the Busan–Masan Uprising in the Preamble to the Constitution of the Republic of Korea, strengthening the conditions for declaring martial law, and reinforcing local autonomy. He added, "It appears entirely possible to carry out constitutional amendment at the same time as the upcoming local elections," calling for bipartisan cooperation.
Regarding the drone incident, he expressed strong regret. President Lee said, "Since this administration took office, an unthinkable incident involving a civilian unmanned aerial vehicle (drone) has occurred, and the investigation has confirmed that an employee of the National Intelligence Service (NIS) and an active-duty soldier were involved." He continued, "Although this was not the intention of our government, I express regret to the North that irresponsible and reckless actions by a few individuals have caused unnecessary military tensions," and ordered the relevant ministries to promptly improve the system and put in place measures to prevent a recurrence.
President Lee also called for stronger responses to false information. He said, "South Korea is in a wartime situation due to the Middle East war," and added, "Deliberately spreading fake news that disrupts state affairs is tantamount to an act of rebellion." He went on, "Even responsible politicians are spreading fake news or amplifying their claims based on such fake news," and stressed, "A much stronger response is needed, and if necessary, we should form a team and establish a system to screen such content preemptively."

west@fnnews.com Reporter Seong Seok-woo Reporter