The floor leader of the main opposition Democratic Party of Korea (DPK) called Tuesday for extending the parliamentary investigation into the deadly Itaewon crowd crush by at least 10 days as the 45-day probe is scheduled to end this week.
President Yoon Suk-yeol met the leaders of Korea s executive, legislative and judicial branches on Monday, asking their support for his drive to make reforms in three areas: labor, education and pensions.
The ruling and opposition parties announced an agreement on next year s national budget Thursday after a weekslong impasse over how much to cut the corporate tax rate and other issues.
Korea s presidential office has expressed displeasure over a National Assembly s revised 2023 budget plan which came through partisan agreement Thursday, with officials at the office saying it won t be “enough for achieving the government s policy goals.” The presidential office is raising questions about the rival parties agreement on a 1 percentage point reduction in corporate tax and a 50 percent cut in the budgets for the police bureau in the interior ministry and the human resources management department in the justice ministry. President Yoon Suk-yeol himself reportedly expressed his regrets over the budget cuts.
Korea will ease regulations on cash incentives next year for foreign businesses operating here to encourage investments in proprietary and other cutting-edge technologies on the co.