"Corporate tax to enhance external competitiveness and stimulate investment in line with global standards"
"Regarding MB pardon theory, proceed with a future-oriented approach and carefully consider public sentiment"
"Prepared to respond to North Korea's nuclear test"
[Asia Economy Reporter Ki-min Lee] On the 21st, President Yoon Seok-yeol evaluated the tax reform plan announced by the Ministry of Economy and Finance the previous day as a measure to revitalize corporate investment, reduce the tax burden on the lower and middle classes, and normalize punitive taxation on real estate transactions and holdings.
On the morning of the same day, President Yoon explained the expected effects on corporate, income, and housing-related sectors in response to reporters' questions during his commute to the Yongsan Presidential Office, who asked, "The tax reform plan was released yesterday, and while there are many expectations, there are also concerns about a tax revenue shortfall."
First, regarding corporate tax, President Yoon stated, "The purpose is to strengthen the international competitiveness of our companies and to activate investment in line with international standards."
Regarding the adjustment of income tax brackets and the reform of real estate tax policies, he emphasized, "It is to reduce the tax burden on the middle and lower classes," adding, "Regarding real estate, punitive taxation on transactions and holdings is being normalized, and it can be seen as a complex policy aimed at supplementing the shortage of public rental housing?which inevitably involves some time lag for the government to provide quickly to our middle and lower classes?through private rentals."
On the negative public opinion related to the special pardon for former President Lee Myung-bak on August 15 Liberation Day, he said, "All state affairs should consider the goals, constitutional values, and the public sentiment on how the people think," adding, "If we only consider public sentiment, the judgment may be focused on the present, but we must carefully judge the current public sentiment while moving forward with a future-oriented approach."
Despite higher public opposition to pardoning former President Lee, President Yoon’s use of the term "future-oriented" implied the possibility of a pardon.
In political circles, it is widely expected that President Yoon will carry out a large-scale pardon on Liberation Day, August 15, and that former President Lee is likely to be included in the pardon list as part of national unity efforts.
On the morning of the 9th of last month, when reporters asked about the possibility of a special pardon for former President Lee, President Yoon responded, "I do not think it is right to keep someone imprisoned for over twenty years."
Regarding a report from the U.S. Department of Defense suggesting that North Korea might conduct a nuclear test at the end of this month, President Yoon said, "We have been fully prepared to respond to North Korea’s nuclear tests not only at the end of this month but since the beginning of my administration," adding, "We believe that North Korea is in a state where it can conduct a nuclear test anytime it decides to."
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