[Anchor]

The government is scheduled to announce its real estate tax reform plan early next month. Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol emphasized in the National Assembly today (the 29th) that it is "not a punitive tax hike," stressing the principle of "taxation according to the taxpayer's ability to pay." While the opposition People Power Party argued that the government is intimidating citizens with taxes regarding the stance on raising holding taxes, the ruling Democratic Party countered that it is a matter of fair taxation.

Reporting from Son Hyeong-an.

[Reporter]

Speaking at the National Assembly today regarding the government's stance on strengthening real estate holding taxes, Deputy Prime Minister Koo Yun-cheol stated that the goal is not to control housing prices.

While emphasizing the tax burden on ultra-high-priced homes or non-resident multi-homeowners, he also mentioned the principle of taxation according to a taxpayer's capacity.

[Koo Yun-cheol / Deputy Prime Minister and Minister of Economy and Finance : This is not being done to control real estate prices. We must uphold the principle of taxation according to ability to pay. For homes that people actually live in, we will provide even more support to ensure residential stability.]

Deputy Prime Minister Koo added that related details will be included in the government's real estate tax reform plan to be announced early next month, stating, "We are preparing rational measures to ensure it is not perceived as punitive."

The People Power Party criticized the push to raise holding taxes, arguing that the government is using taxes to intimidate the public.

[Lee Jong-wook / People Power Party Lawmaker : You are going to raise holding taxes and transaction taxes as well. What did the public do wrong to have their taxes raised? Within the span of a year, have multi-homeowners suddenly become villains?]

Meanwhile, the Democratic Party countered that the measures are intended to normalize real estate transactions and ensure fair taxation.

[Oh Gi-hyung / Democratic Party Lawmaker : You are saying that we are discussing a tax reform plan approached from the perspective of normalizing the real estate tax system, and I believe that direction is correct.]

Regarding measures for the jeonse and wolse (lease and monthly rent) markets, Deputy Prime Minister Koo stated, "Our focus is on increasing the supply of non-apartment housing that can be supplied in a short period."

(Camera: Lee Seung-hwan, Shin Dong-hwan | Video Editing: Yu Mi-ra | Design: Lee Ga-jin)