Koo Yooncheol's Remarks on 'Restoring Corporate Tax Rate': Presidential Office Says 'No Internal Discussion'

Koo Yooncheol Says "Will Actively Consider" at Confirmation Hearing
Presidential Office: "Hearing Responses Reflect Nominee's Personal Convictions and Policy Positions"

Regarding Deputy Prime Minister and Minister of Economy and Finance nominee Koo Yooncheol's statement at the National Assembly confirmation hearing on the 17th that he would actively consider restoring the corporate tax rate to its previous level, the Office of the President clarified that there has been no internal discussion on the matter.

Yonhap News Agency

On the 18th, Kang Yoojung, spokesperson for the Office of the President, said in a briefing at the Yongsan presidential office, "This has not yet been discussed at any major official meeting. I have not heard of it," providing this explanation. Under the Yoon Suk Yeol administration, the corporate tax rate was reduced by 1 percentage point, lowering the top rate from 25% to 24%.

Regarding Koo's remarks, the spokesperson added, "Answers given at confirmation hearings reflect the opinions of the nominees. Since he is a ministerial nominee, it is uncertain whether this issue will be discussed in the future," but also stated, "I believe responses at confirmation hearings represent the nominee's personal convictions and policy positions."

At the National Assembly confirmation hearing the previous day, nominee Koo responded to Oh Ki-hyung, a lawmaker from the Democratic Party of Korea, who suggested the need to consider restoring the corporate tax rate, by saying, "I will actively consider it, taking into account the effects on fair taxation."