Oh Se-Hoon: “Do Not Remain Silent on the Abolition of the Long-Term Special Tax deduction.” Jung Won-Oh: “Single-Home Owners for Actual Residence Must Be protected.”

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With the June 3 local elections just over 40 days away, the political battle between the ruling and opposition parties is intensifying over President Lee Jae-myung’s remarks hinting at a reform of the Long-Term Capital Gains Tax (LAT). The LAT is a system that reduces capital gains tax by a total of 80%, with up to 40% based on the period of ownership and another 40% based on the period of residence. On the 18th, President Lee mentioned the phas…