Although this week is starting quietly with the U.S. celebrating Memorial Day, there will still be plenty of noise with earnings reports from Zoom (NASDAQ: .
South Korea plans to extend the current 30% sales tax discount on vehicles until the end of the year to help support the country s vehicle market, according to local reports.
The discount, which reduces the sales tax from 5% to 3.5%, was originally introduced in July 2018 but the government has continued to extend it to support domestic vehicle demand. It is currently due to expire at the end of June 2021.
Finance minister Hong Nam-ki was reported to have announced the plan to extend the discount for another six months to local journalists on Friday, citing continued weak vehicle demand due to the COVID-19 pandemic.