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S.Korea to impose capital gains taxes for stock investments exceeding 20 mln won a yr

SEOUL, June 25 (Reuters) - South Korea's finance minister on Thursday said the government plans to impose capital gains taxes on annual stock investment gains exceeding 20 million won ($16,587) starting 2023.

Stock transaction taxes, on the other hand, will gradually be lowered to 0.15% by 2023 from the current 0.25%, Hong Nam-ki said in a policy meeting.

The tax code revisions needs parliamentary approval, he said. ($1 = 1,205.7600 won) (Reporting by Cynthia Kim; Editing by Himani Sarkar)