November 6, 2018 / 9:06 AM / 14 days ago

S.Korea regulator: time to consider repealing stock trading tax

SEOUL, Nov 6 (Reuters) - South Korea’s top financial markets regulator said on Tuesday the government needs to “seriously consider” repealing the stock transactions tax as it could help boost the domestic equity markets.

Answering a lawmaker during a parliamentary session, Financial Services Commission Chairman Choi Jong-ku said “it was time to seriously consider (repealing the tax)”, and added that he would have to discuss the issue with tax authorities.

South Korea levies a 0.15 percent tax on stock transactions on the main stock exchange and 0.3 percent for those on the junior Kosdaq market.

Last month, the country’s main stock market fell more than 13 percent in its worst performance since the 2008 global financial crisis. (Reporting by Choonsik Yoo)

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