[Asia Economy Reporter Park Sun-mi] The Korea International Trade Association (KITA) expressed a 'welcoming' stance on the ruling and opposition parties' agreement on next year's budget and tax bills on the 22nd.
Jung Manki, Vice Chairman of KITA, said, "Although it is a case of belated regret given the unfavorable economic situation, we welcome the budget bill being agreed upon by both parties." He added, "We hope the National Assembly will continue to strengthen efforts to boost economic vitality, such as lowering corporate tax rates, to enhance the global competitiveness of our export companies."
Regarding the plan to handle bills that lose effect this year, including the freight truck safety fare system, at the plenary session of the National Assembly on the 28th, he emphasized, "We urge the safety fare system (Cargo Truck Transportation Act), a unique regulation ignoring market principles and unprecedented worldwide, to be allowed to sunset as scheduled."
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