Bok-Hyeon Lee “The gold investment tax postponement is cowardice and should be abolished… Short selling has not yet been resumed.”

Lee Bok-hyeon, head of the Financial Supervisory Service, reaffirmed his position on abolishing the gold investment tax, calling the plan to postpone the financial investment income tax a “cowardly decision.”

He declined to say anything about the specific timing of resumption of short selling.

This is reporter Shim Young-ju.

Lee Bok-hyeon, head of the Financial Supervisory Service, emphasized the need to abolish the financial investment income tax, saying it is a policy that does not fit the domestic stock market. It also conflicts with the ‘value up program’ being promoted by the government.

[이복현/ 금융감독원장] “The financial investment investment income tax system may have had its own rationality when it was designed several years ago, but now, considering the development of bond investment and changes in the capital market environment, the negative impact is greater than the positive impact in terms of our capital market or tax revenue, and the value It may directly conflict with karma.”

He called the postponement of the gold investment tax a cowardly decision and called for a discussion in the National Assembly.[이복현/ 금융감독원장] “I think (the postponement of the gold investment tax) is a cowardly decision to say the least. “It is not simply the responsibility of the financial authorities or the government, but the 22nd National Assembly should also think more proactively and focus on livelihood policies for the people…”

Regarding the timing of resumption of short selling, it was stated that the timing has not yet been confirmed. However, he said that the basic principle is to promote the introduction of a computerized system to prevent illegal short selling as quickly as possible.

[이복현/ 금융감독원장] “There is a need to comprehensively review how quickly computerization plans can be prepared, whether resolving technical issues is sufficient, and whether related laws and regulations need to be revised. However, it is not a topic or situation where I can say anything definitively at this stage.”

Regarding his future plans, he reiterated that he would maintain his position until at least the third or fourth quarter of this year. He has drawn the line that he has no intention of holding any other public office.

This is Shim Young-joo of Edaily TV.

(Video reporting: Lee Sang-jeong, Video editing: Kim Tae-wan)