Criticism is mounting over the government’s tax reform plan aimed at preventing controlling shareholders from deliberately depressing share prices to reduce their tax burden when passing on their stakes to heirs, as lawmakers and experts voiced their concerns, Wednesday. Critics say the plan would do little to normalize the capital market or protect shareholder interests, while imposing only a limited tax burden on controlling shareholders. On Wednesday, the ruling Democratic Party of Korea (DPK) called for a full review of the government proposal and introduced a new bill to strengthen the measures. Rep. Lee So-young of the DPK, who pioneered the idea by introducing a bill to revise the Inheritance Tax and Gift Tax Act to curb share-price suppression in May last year, said on Facebook that the government’s proposal undermines the idea behind the bill. Under the current law, listed shares are valued using the average price for two months before and after the valuation date when they are inherited or gifted. Critics say this can encourage controlling shareholders to push down share pr