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Gov't launches investigation into fake presidential statement on tax increases

Published: 27 Nov. 2025, 20:59

KIM MIN-YOUNG
[email protected]

Traders work at the New York Stock Exchange on Wall Street in New York City on Nov. 25. [UPI/YONHAP]

The National Office of Investigation announced on Thursday that it has launched a preliminary investigation into a fake public statement falsely issued under President Lee Jae Myung's name.

The statement — titled “Overseas stock capital gains tax hike and new holding tax” (translated) — has been circulating online.

The fabricated statement claims that the government plans to sharply increase taxes targeting Korean retail investors who invest in foreign stocks.

“This is a serious criminal act involving false information and impersonation of the president, which can cause significant confusion regarding government policy,” the National Office of Investigation said. “We are tracing how it spread, and we will deal with it strictly according to the law.”

The presidential office also acknowledged “the fake presidential address” on Thursday, vowing to take legal action.

Stocks are shown on a screen at the Korea Exchange's public relations center in Yeouido, western Seoul, on Sept. 15. [YONHAP]

The rumors likely resulted from Finance Minister and Deputy Prime Minister Koo Yun-cheol's press briefing on exchange rates earlier this week, during which he said that though the government is not currently considering tax penalties for such investors, policies may be reviewed if circumstances change.

The presidential office firmly quelled speculation, asserting, “The presidential office has never issued such an address, and its content is clearly false.”

“The dissemination of fabricated information using the president’s name is a serious crime,” it continued. “The presidential office has maintained a firm stance against the creation and spread of misinformation, and we will respond strongly to this case as well.”

BY KIM MIN-YOUNG [[email protected]]