Sung Tae-yoon said, "The effect of the global government bond index will spread only when the financial investment tax is abolished."

Sung Tae-yoon, the chief policy officer at the presidential office, said that the financial investment tax should be abolished to spread the changes in the bond market following the nation's inclusion in the global government bond index to the stock market.

In an appearance on today's broadcast (13th), Sung made the remarks in connection with concerns raised by global index providers Financial Times Stock Exchange and FTSE Russell over the ban on short selling.

Director Sung said he will have a system and system to eradicate illegal short selling by March next year, and stressed the need to definitely abolish the gold investment tax and move to a general system that can achieve the development of the capital market by removing market instability factors.

"The funds that follow the global government bond index are usually long-term investment-oriented real-demand funds and have stable characteristics," he said. "When these funds come in, they have the effect of lowering interest rates, lowering the cost of financing for economic players and stabilizing the foreign exchange market, which is very useful."

Regarding concerns about market volatility caused by increased foreign investment, some said, "This is not the case at all," adding, "It will deepen the breadth and depth of the foreign exchange market and the foreign exchange fund market."