Kim Tae-ho: "A Country Where You Can Freely Do Business... Eradicating Unfairness and Inequality"

Kim Tae-ho, member of the People Power Party.

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Kim Tae-ho, a presidential candidate from the People Power Party, pledged to create a "country where businesses can operate freely."

On the 29th, Kim stated on his SNS, "People's lives do not improve by strangling businesses with regulations and taxes."

He plans to ease regulations and lower the corporate tax rate to create a business-friendly environment.

Kim said, "We will shift the approach to business regulations from positive to negative," adding, "We will realize the 'regulation sunset system' so that all regulations will, in principle, be abolished after 10 years."

He also proposed lowering the top corporate tax rate, which was raised to around 25% under the Moon Jae-in administration, down to 22%.

Kim explained, "South Korea's top corporate tax rate of 25% is higher than the OECD average (23.5%) and ranks 10th highest among 37 OECD countries," adding, "We will encourage businesses so that the corporate tax cut leads to increased investment and employment."

He also pledged to support small and medium-sized enterprises in discovering future growth industries and to promote environmental, social, and governance (ESG) management to eradicate unfairness and inequality.

Kim emphasized, "The rise and fall of businesses are directly linked to household livelihoods. Quality jobs are ultimately created by businesses."

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