Measures to reduce the tax burden have also been taken including the lowering of the rate of special excise tax and the granting of increased tax credits for investment.
Given the upturn in global conditions and the emerging effects of the economic stimulation package, the Korean economy is expected to move onto a moderate recovery track in the near future, though there may be some impact from the damage inflicted by the recent typhoon. The problems we confront, though, are by no means simple.