경제소식 (Economic News)

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작성자 까마 (121.♡.87.158) 댓글 0건 조회 82회 작성일 22-11-08 12:51

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[KOREAN ECONOMIC NEWS] Good morning everyone I am  Rumi Dhar from Kama Group.
Here I have important KOREAN economic news to share with you which is as mentioned
below.

Major business lobby groups on Monday urged the National Assembly to swiftly approve a
corporate tax reduction bill that the Yoon Suk-yeol administration introduced in July to help
local businesses better respond to widespread fears of an economic recession on time.

The nation’s six business groups, led by the Korea Chamber of Commerce and Industry,
released a joint statement contending that the new measure should be implemented within
this year for it to be effective by the second half of next year.

The government introduced its plan to slash the corporate tax ceiling to 22 percent of
earnings from the current 25 percent in July, but the bill remains pending approval from the
National Assembly.

Business entities pointed out the Korean economy is facing a multifaceted crisis from
shrinking consumption due to increases in consumer prices and interest rates and worsening
company profits due to a spike in international raw material prices and the US dollar’s strong
position.

“Companies going through financial difficulties have no choice but to look for help from
banks and face high interest rates which only throws them into a vicious cycle,” they said in
the statement.

They claimed that corporate tax breaks would eventually lead to an improvement in business
operation, and an increase in investment and employment.




Read more at: https://www.koreaherald.com/view.php?ud=20221107000618&np=1&mp=1

KAMA GROUP
New Delhi
Have a nice day 

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