Round-up: Today’s top stories in the morning papers in Korea (August 2, 2016)
1. The ruling Saenuri Party said it is virtually difficult to accept the Minjoo Party’s revision to raise income tax for those who earn more than 500 million won (500,000 US dollars) a year and corporate tax. The main opposition party proposes a revision to impose 40% income on high-income earners and to increase the corporate tax for large companies to 25% from the current 22%.
Is raising corporate tax bucking the global trend? It is not for them to say as they are already bucking the trend by publishing the government-initiated history textbooks.
2. Woo Sang-ho, the Minjoo Floor leader, was frowned at raising price cap regulation of Kim Yong Ran Law (anti-corruption law)for treating a meal and receiving gifts to 50,000 and 100,000 won respectively. Woo made such suggestion to raise the cap to 50,000 won as Korean Table d’hote for one person was 30,000 won 13 years ago.
Why don’t lawmakers pay their own money? It does not matter whether gifts are 50,000 or 100,000 won if they do so.
3. What Hyon Gak Sunim (also known as a blue-eyed Buddhist monk) said rippled social effects. There is one argument, which is a foreign monk’s self-centered perspective, says Korean Buddhism is faith for the blessing that crazed about money while others argue that they should take this as an opportunity for self-reflection.
Buddhism is not the only religion that causes the problem. Everyone, not just the blue-eyed monk, knows that it is the problem of religions in Korea.