The government has decided to keep the major shareholder threshold for capital gains tax at five billion won, or three-point-six million U.S. dollars. 

Finance Minister Koo Yun-cheol announced the decision on Monday after a policy coordination meeting between the government and the ruling Democratic Party at the National Assembly.

The minister told reporters that the government decided to keep the current criteria for major shareholders in consideration of the public's desire to boost the capital market and the ruling party's position that the threshold should be maintained.

On July 31, the government had announced a plan to lower the major shareholder threshold for capital gains tax from five billion won per stock to one billion won.

The plan faced criticism for its potential to dampen investment sentiment, particularly that of retail investors. The ruling party also expressed concerns to the government regarding the plan.