Main opposition seeks cigarette price cut

By Yi Whan-woo

The main opposition Liberty Korea Party (LKP) plans to propose a bill aimed at lowering the price of cigarettes from 4,500 won ($4) to 2,500 won per pack, according to a party official, Wednesday.

Rep. Lee Hyun-jae, the party’s chief policy maker, said the envisioned bill is to help “ease the financial burden of everyday citizens” in line with pledges made by party chairman Hong Joon-pyo during his presidential campaign in May.

“Chairman Hong lost in the election but we still want to help people out by fulfilling his promises,” Lee said.

But the ruling Democratic Party of Korea and other opposition parties questioned the sincerity behind the envisioned bill.

They claimed that it was the LKP’s precursor, the Saenuri Party, which helped then-President Park Geun-hye hike the cigarette price in 2014 to raise revenue.

Some political sources speculated that the LKP’s move is to protest the Moon Jae-in administration’s push to collect more taxes from the rich, many of whom support the LKP.

Meanwhile, the LKP is also considering a push to lower the oil tax for small car owners.

The move is in line with Hong’s campaign promise to cut oil tax by half for those owning cars with an engine capacity of less than 2,000 cc.