On the morning of the 4th, Jeong Cheong-rae, the new leader of the Democratic Party of Korea, spoke at the Supreme Council meeting held at the National Assembly. Photographer Kim Seong-ryong captured the moment. Jeong urged party members to refrain from public statements regarding the government’s proposed changes to the capital gains tax on stocks, promising to quickly organize the party’s stance and communicate it to the public.
In his concluding remarks during the Supreme Council meeting, Jeong stated, “In the current situation, where there is much debate about the capital gains tax on stocks, it is not appropriate for party members to express individual opinions.” He added, “There will be ample discussion in closed meetings, so please refrain from making public statements.”
Previously, the government included a proposal to lower the capital gains tax threshold for major shareholders from the current 5 billion won to 1 billion won as part of its tax reform plan. This led to differing opinions even within the ruling party, resulting in controversy.
Jeong directed Han Jeong-ae, the new policy committee chairperson, to review both plan A and plan B and report back, promising to clarify the party’s position to the public soon. Han responded by saying, “Although the coordination process will involve intense discussions, we will strive for a unified voice within the party. We aim to meet the expectations of the public.”
Meanwhile, regarding the composition of the Special Ethics Commission in the National Assembly, Jeong promised to handle the matter well so that party members would not be concerned. He also urged support for the leadership now that he has become the party leader. Jeong defended Kim Byeong-gi, the floor leader, noting, “Representative Kim has received a lot of criticism from party members, but I feel there are parts where he has been misunderstood.”
The Democratic Party recently agreed with the People Power Party to form the ethics commission with equal representation (six members each). This led to criticism from within the party, labeling it as a “half-functional ethics commission” incapable of reaching a majority decision, and sparked further criticism toward Kim from the support base.