Oil Subsidies to Help Drivers, Farmers, Fishermen

The government will provide from next month a subsidy amounting to half of the rise in diesel oil prices for self-employed drivers, farmers and fishermen.

Prime Minister Han Seung-soo hosted a Cabinet Council at the Government Complex in central Seoul yesterday and passed a resolution to revise tax law.

The oil subsidy will be provided for a year from next month through June 30 next year and benefit bus and truck drivers, cargo ship captains, shipowners, farmers and fishermen.

The government will secure the financial resources by raising the motor vehicle fuel tax from 32 percent to 36 percent, but will avoid putting more financial burden on the people by lowering taxes on transportation, energy and environmental protection.

A source from the Public Administration and Security Ministry said, “The government’s measure will benefit self-employed drivers, fishermen and farmers who have suffered from surging diesel oil prices.”

Under the revised bill, the acquisition tax will be lowered from 10 percent to two percent and property tax for land and buildings will fall from four percent to two percent for golf courses located outside of the Seoul metropolitan area.

uni@donga.com