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THE INVESTOR] The superrich accounted for more than 40 percent of capital gains from stock sales in the past five years, data showed on Oct. 12.
According to the data obtained by Rep. Park Kwang-on of the main opposition Minjoo Party of Korea, 610 people gained nearly 19.84 trillion won (US$ 17.68 billion) from stock transactions in since 2011. The figure, based on transactions that incurred capital gains taxes, is 41.2 percent of all taxed stock transactions between 2011 and 2015, which came to about 48.17 trillion won.
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The Yeouido financial district in Seoul |
In comparison, a total of 166,838 people reported capital gains from stock transactions for taxation.
Those who gained less than 100 million won numbered 132,166, whose combined profits came to 2.35 trillion won or 4.8 percent of the total.
The data showed that those making between 100 million won and 1 billion won came to 27,688 or about 16.6 percent. Their combined income accounted for 18.6 percent of the total.
Under current regulations, capital gains tax is levied on transactions carried out by those with 1 percent or more stake in KOPSI-listed companies. For the KOSDAQ market, the tax is levied on transactions involving those with 2 percent or higher stake. All transactions involving unlisted stocks are subjected to capital gains tax.
By Choi He-suk (
cheesuk@heraldcorp.com)
