Finance Minister nominee Lee Hyoung-il denied considering a corporate tax cut during his confirmation hearing at the National Assembly. He cited the restored corporate tax rate as the reason for this stance. The remarks were in response to a ruling party lawmaker's query.
Lee Hyoung-il, the nominee for Finance Minister, stated during his confirmation hearing at the National Assembly on September 13, 2026, that discussions on a corporate tax cut are not under consideration. He explained that the restored corporate tax rate, which took effect this year, is the reason for this position. The statement came in response to a query from a ruling party lawmaker about potential tax reforms.
The National Assembly hearing was a key moment in the confirmation process for Lee Hyoung-il. His response to the lawmaker's question highlighted the government's current fiscal priorities and the stance of the ruling party on economic policy. No immediate consequences were reported following his remarks, though the statement may influence ongoing debates about corporate taxation in South Korea.
Both the Korea Herald and Yonhap News Agency reported the event, with the Korea Herald providing more detailed context about the restored tax rate and the hearing's context. Yonhap's article was more concise but confirmed the key points of Lee's statement.
Sources
IndependentKorea HeraldSep 13, 03:33 PM
Finance minister nominee says corporate tax cut not under considerationFinance Minister nominee Lee Hyoung-il said Sunday the he is not considering a corporate tax cut, citing the restoration of the corporate tax rate that took effect this year. The nominee made the remarks in response to a ruling party lawmaker's query on whether he would pursue a corporate tax cut, ahead of his confirmation hearing at the National Assembly on Tuesday. "Discussions on a corporate tax cut are not under consideration," Lee said, adding that the restored corporate tax rate came into