SEOUL, Feb. 14 (Korea Bizwire) — More than half of South Koreans are in favor of raising taxes for high income earners to mitigate the polarization that has deepened during the pandemic, a poll showed Sunday. In the survey of 1,000 South Koreans aged 18 or older conducted last week, 57.4 percent of respondents agreed [...]
SEOUL, Jul. 21 (Korea Bizwire) — The new policy objectives and tasks of the new government with a clear focus on welfare and economic equality, if not justice, will inevitably lead to a tax hike, officials noted Friday. Setting the five key policy objectives and 100 tasks for the new government Wednesday, the State Affairs [...]
SEJONG, June 17 (Korea Bizwire) — South Korea’s cigarette tax revenue jumped in the first five months of 2015 from a year earlier due mainly to a tax hike, government data showed Wednesday. Starting this year, the tax levied on a pack of cigarettes rose by 2,000 won (US$1.79), raising the average price per pack [...]
“I urge both the ruling and opposition parties to find a middle ground on what kind of social welfare the country needs before coming up with ways to pay for such expenditures. There are considerable differences between political parties as well as ordinary citizens on what the level of welfare coverage should be.” “Experience has [...]