Lee Jae Myung, a candidate in the Democratic Party presidential primary, opposed tax increases on the 18th, stating, "Given the current severe economic situation, it does not seem appropriate to pursue tax hikes that shift the government's burden onto the private sector."
Democratic Party presidential primary candidates Lee Jae Myung, Kim Kyung Soo, and Kim Dong Yeon are taking a commemorative photo on the 18th at MBC in Sangam-dong, Mapo-gu, Seoul, before starting the first TV debate. Photo by Yonhap News
During the 100-Minute Debate on MBC that evening, Lee said, "At this stage, the necessary funds should be secured through spending adjustments and other measures. In the long term, it is reasonable to restore the growth rate and develop a fundamental solution for fiscal policy."
Kim Dong Yeon stated, "I have already expressed a critical view several times regarding the populist competition for tax cuts in the political sphere, which is driven by a desire for votes," adding, "I cannot shake the impression that there is an excessive proliferation of tax cut pledges."
Kim Dong Yeon also said, "If we are to move toward tax increases, a drastic restructuring of expenditures is necessary," emphasizing, "The first step should be an overhaul of the tax reduction system."
Kim Kyung Soo stated, "To resolve the national crisis facing South Korea, an active fiscal strategy is needed, but in order to discuss this issue, there must be public trust in the government's tax administration."
Kim Kyung Soo also said, "It is difficult to secure the necessary fiscal resources through spending adjustments alone, and the government must also undergo a drastic self-reform."
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