SH Corporation, Korean Urban Administration Society, Korean Tax Society to hold policy debate on ‘Property Tax on Public Rental Housing, How to Improve?’ on the 22nd,
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<Seoul Housing and Urban Corporation (SH Corporation) provided> , ‘Seoul Housing and Urban Corporation (SH Corporation, CEO Kim Heondong) along with the Korean Urban Administration Society (President Jo Pang-gi) and the Korean Tax Society (President Choi Wonsuk) will hold a policy debate to explore the desirable direction for the property tax on public rental housing.’,
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, “SH Corporation and Korean Urban Administration Society, Korean Tax Society announced on the 19th that they will hold a policy debate on ‘Property Tax on Public Rental Housing, How to Improve?’ at 2 p.m. on the 22nd at Ruby Hall, 2nd floor of FKI Tower in Yeouido.”,
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, ‘While public rental housing has greatly contributed to reducing housing costs for the vulnerable population, the recent increase in related property tax has exacerbated difficulties in supply and operation. This debate aims to focus on these issues and explore ways to secure the sustainability of public rental housing through institutional improvements.’,
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, “At the debate, presentations will be given by Kim Ji-eun, Senior Researcher at SH Urban Research Institute, on ‘Property Tax Systems on Public Rental Housing in Major Countries and Implications,’ and Yoon Seong-man, Professor at Seoul University of Science and Technology, on ‘Economic Effects of Property Tax Reduction for Public Rental Housing.’ Subsequently, experts in various fields such as housing, urban development, and taxation will discuss the desirable policy directions under the moderation of Professor Ko Yoon-sung from Hankuk University of Foreign Studies.”,
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, ‘The panelists include △Kim Wan-yong, Professor at Hanyang Cyber University △Nam Won-seok, Research Fellow at Seoul Institute △Baek Kyung-yeop, Section Chief of Tax Analysis 2 at the National Assembly Budget Office △Chun Ji-min, Administrative Staff of Public Housing Policy Division at the Ministry of Land, Infrastructure and Transport △Jo Nam-sik, Director of Asset Management at SH Corporation.’,
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, ‘SH Corporation CEO Kim Heondong stated, “SH Corporation operates public rental housing at rents (usage fees) at 30% of the market value due to laws and regulations,” adding, “When comparing with market rents, the contribution amount reaches up to 1.3 trillion won annually.” He further mentioned, “Therefore, imposing property tax and speculative suppression tax (capital gains tax) are unnecessary regulations on the supply of public housing.” He also proposed exemption of property tax on public (rental) housing to expand the supply of public housing and mentioned that a constitutional petition challenging the constitutionality of the capital gains tax currently being imposed is underway.’,
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