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Yoon vows not to overtax for political reasons

March 3, 2023

President Yoon Suk Yeol said Friday he will not overtax people for political and ideological reasons, a remark seen as a swipe at the previous administration.

Yoon attended a ceremony marking the 57th Taxpayers’ Day at the COEX exhibition center and outlined his government’s plans to collect and spend taxes.

He also awarded presidential citations to exemplary taxpayers, including actors Song Ji-hyo and Kim Soo-hyun.

President Yoon Suk Yeol speaks during a ceremony at the COEX exhibition center in Seoul on March 3, 2023, to mark the 57th Taxpayers' Day and present people with presidential citations for being exemplary taxpayers. (Yonhap) — President Yoon Suk Yeol speaks during a ceremony at the COEX exhibition center in Seoul on March 3, 2023, to mark the 57th Taxpayers’ Day and present people with presidential citations for being exemplary taxpayers. (Yonhap)

“We will run the tax system transparently and fairly in line with the law,” Yoon said in congratulatory remarks. “We will not burden the people with excessive taxes as happened in the past with property taxes resulting from being consumed by politics and ideology, or excessively violate people’s property rights.”

Yoon’s predecessor, Moon Jae-in, has been accused of a series of real estate policy failures that drove up property prices and forced people to pay hefty taxes on their property.

Yoon especially noted the struggles of small business owners and the self-employed, saying he will make sure not to burden them with excessive taxes by consulting with tax experts even during times of fiscal crisis.

“We will not waste a single won of your taxes and spend them with a special focus on where it is absolutely necessary,” he said, listing areas such as national defense, public safety, and judiciary and administrative services.

Yoon also said the taxes will be used to help vulnerable groups and the socially weak, create high-income, quality jobs, and raise the nation’s competitiveness through innovations in advanced science and technology.

“We will reject populist ‘welfare of politics’ that aims to build a political camp and win votes, and practice ‘welfare for the weak’ that generously supports vulnerable groups and the weak,” he said.

“We will not spend a penny of taxpayers’ precious money on politically grouped organizations that depart from their original purpose in the public interest and make a habit of illegal activities or hurt the national interest,” he added.