Minor progressive parties oppose Democratic Party tax-delay proposal

South Korea’s Democratic Party faces backlash from minor progressive opposition parties over its proposal to delay taxation on virtual asset income. Cho Kuk, head of the innovation policy research institute at the Rebuilding Korea Party, criticized the Democratic Party for appearing to delay reform. Yong Hye-in, floor leader of the Basic Income Party, stated that delaying virtual asset taxation is unlikely to regain support from voters in their 20s, unlike during the Roh Moo-hyun administration. The Justice Party argued that the fairness standard applied to multicultural family policy seems more lenient for high-income virtual asset investors benefiting from tax-free privileges. The Progressive Party commented that a tax delay favoring large investors would not improve the lives of ordinary young people and working-class households.

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