Acting President Han's Commitment to Economic Recovery

Acting President and Prime Minister Han Duck-soo emphasized the government's commitment to implementing next year's budget promptly to stimulate economic vitality. During a cabinet meeting at the Government Complex Seoul on December 17, Han stated, "Above all, we will do our best to 'restore the people's livelihood and economy.'"

Han highlighted the worsening conditions for small and medium-sized businesses and the self-employed, urging ministers to focus on executing the budget effectively. He mentioned support for the socially underprivileged, customized support for small business owners, and fostering high-tech industries as key areas of economic revitalization.

Reintroduction of Inheritance Tax Relief Bill

On December 16, Han announced plans to reintroduce an amendment to the Inheritance and Gift Tax Act, which was blocked by the major opposition party. The amendment aimed to lower the maximum inheritance tax rate from 50% to 40% and expand the family business inheritance tax exemption to mid-sized companies with revenue exceeding 500 billion won.

Han expressed his disappointment over the amendment's failure and stated, "We will resubmit the amendment to the National Assembly and work to ensure its swift passage." He also proposed forming a consultative body involving both ruling and opposition parties to discuss various issues and ensure public reassurance.