Lee Jae-myung's Advice to Korea Employers Federation: "People Are Starving, Yet You Demand Corporate Tax Cuts"

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Lee Jae-myung, Governor of Gyeonggi Province, strongly criticized the Korea Employers Federation (KEF), saying that while the people are dying, they are only looking out for their own interests by asking for corporate tax cuts.

Governor Lee has repeatedly argued that domestic conglomerates such as Samsung Group hold enormous retained earnings without using them and that taxes should be imposed on these retained earnings.

On the 22nd, in a post on Facebook titled "KEF wants to benefit again while the people are dying," he questioned, "At a time when there is no place to invest due to lack of consumption caused by COVID-19, if companies with over 1,000 trillion won in retained earnings are given corporate tax cuts, will that money really be used for (stimulating consumption or expanding investment)? Will it help the stagnant economic circulation?" He expressed strong rejection of KEF's recent request to the government for corporate tax reduction.

He further stated, "World-renowned scholars who have won the Nobel Prize in Economics and advanced capitalist countries such as the United States see that tax cuts have no practical effect in crisis economic situations and are shifting towards cash payments such as disaster basic income," and evaluated, "KEF's demand for corporate tax cuts is nothing but a selfish claim that goes against the times."

He also said, "KEF, which tries to profit by exploiting this miserable situation where people say 'I will starve to death before I get sick' because they have no money to spend, is truly disappointing," and advised, "It seems they cannot forget the sweet memories of receiving tens of trillions of public funds during the national crisis by exploiting the people's suffering, but please let's live together."

This content was produced with the assistance of AI translation services.