Democratic Party Divided Over Bill to Prevent Stock Price Suppression; Seeks Passage of Inheritance and Gift Tax Act Amendments During Regular Session

The Democratic Party of Korea discussed measures to normalize the capital market, including a bill to prevent stock price suppression, at a policy meeting of its lawmakers on Nov. 10, but failed to reach a conclusion. The party plans to push for passage of amendments to the Inheritance and Gift Tax Act during the regular session of the National Assembly, while deciding to seek further input before proceeding with amendments to the Capital Markets Act.

Kim Seong-hoe, the party's floor spokesperson, told reporters after a lawmakers' meeting at the National Assembly that afternoon, "There were many different opinions on a bill to prevent stock price suppression, so we discussed them." He added, "The position was that the Inheritance and Gift Tax Act should be passed during the regular session, while the party is gathering opinions on the Capital Markets Act and will work to pass it as soon as possible."

(Seoul = Yonhap News) Representative Oh Gihyeong, chair of the Democratic Party of Korea's K-Capital Market Special Committee, speaks on normalizing the capital market during a party meeting at the National Assembly on Nov. 10, 2026. Photo by Shin Hyunwoo

nowwego@yna.co.kr (END)

At the meeting, Assemblyman Oh Gihyeong presented on the activities of the K-Capital Market Special Committee, the effects of amendments to the Commercial Act, and measures to normalize the capital market, including a bill to prevent stock price suppression. Lawmakers exchanged views on the direction of related legislation but failed to reach a specific conclusion.

Lawmakers also expressed support for and opposition to the mandatory tender offer system. Floor spokesperson Kim said, "The ruling and opposition parties' policy chiefs have already agreed on the matter," adding, "We are also well aware of the concerns raised by market participants." He continued, "Since the bill has come this far based on an agreement between the ruling and opposition parties, we also decided to continue consulting with the opposition on any revisions."

Asked whether the original version of the mandatory tender offer system would be retained or revised, he said, "We need to discuss it with the opposition," adding, "Since the bill was developed through consultations between the ruling and opposition parties, we will review its details through negotiations."

The Democratic Party of Korea plans to hold another lawmakers' meeting next week to revisit the direction of capital market legislation. Floor spokesperson Kim said, "Today's discussion alone did not settle everything," adding, "We plan to report on the relevant matters and discuss them again at a lawmakers' meeting expected to be held next week."

This content was produced with the assistance of AI translation services.