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South Korea's Democratic Party Announces Fiscal Law Revision to Address 100 Trillion Won Tax Revenue Volatility

2026-07-08 07:58:28

According to Yonhapinfomax, on July 8, Democratic Party floor leader Ahn Do-geol announced plans to revise the National Finance Act to address revenue fluctuations and establish a new fiscal policy framework. Ahn stated that next year could see up to 100 trillion won in additional tax revenue above current projections if the semiconductor sector and stock market remain strong. The proposed reforms include mandatory budget adjustments for significant tax changes, establishment of a "future response fund" to stabilize spending during downturns, and allocation of surplus revenue to future growth sectors including AI and semiconductors.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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