President urges measures against quasi-tax

President Kim Dae-Jung on Tuesday called for proper measures to ensure free and transparent business activities by removing excessive regulations and various quasi-taxes that encumber the viability of enterprises.

At the first cabinet meeting of his administration in the second half of its term of office, the President referred to copious complaints by many economic organizations over the unabated burden of official regulations and dubious financial levies, which are equivalent to taxes. He stressed in particular, according to presidential spokesman Park Joon-Young, that local businesses are subject to a greater burden, including such restraints and pseudo-taxes, thus making it difficult for industries to move into the countryside.

Kim also pointed out the necessity of special programs to stimulate the rural economy and the livelihood of those in the lower class, which have been depressed by a downslide in the building industry as a result of the massive supply of housing in recent years.

Moon Chul fullmoon@donga.com