Financial Services Commission Chairman on 'Windfall Tax' Introduction: "There Are Pros and Cons, So We Are Considering It"

Financial Services Commission Chairman Kim Ju-hyun is responding to lawmakers' questions at the Political Affairs Committee's audit held at the National Assembly on the 11th. Photo by Kim Hyun-min kimhyun81@

Kim Ju-hyun, Chairman of the Financial Services Commission, stated regarding the discussion on introducing a 'windfall tax' targeting banks, "There are pros and cons, so we are considering it carefully."

On the 9th, during the plenary session of the National Assembly's Political Affairs Committee, in response to a question from Min Byung-duk of the Democratic Party of Korea asking, "Has a position been decided on the windfall tax?" Kim said, "Nothing has been finalized."

When Yoon Chang-hyun of the People Power Party suggested, "Rather than a tax like the windfall tax, wouldn't it be better to have banks contribute to government financial products for low-income earners, such as Sunshine Loans, from a guideline perspective?" Kim responded, "I think that is a good approach."

Kim also said, "We are reviewing various measures related to expanding banks' contributions to low-income financial services."

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