Finance minister nominee vows to put top priority on stabilization of inflation
Finance Minister nominee Choi Sang-mok arrives at his office in Seoul, Dec. 11. Yonhap
Finance Minister nominee Choi Sang-mok said Sunday that he will put his top priority on stabilizing inflation and predicted the nation's economy would improve next year.
Choi, former senior presidential secretary for economic affairs, told lawmakers that he would "try my best to settle the inflationary stabilization trend as early as possible."
Choi made the remarks in a written response to opposition lawmakers ahead of his confirmation hearing slated for Tuesday.
"The current government has put in all-out efforts to lower inflationary pressure amid difficult internal and external circumstances," Choi said.
"As a result, inflation is projected to be reduced to the two percent level next year after it has come down to the three percent level this year from 5.1 percent last year," he said.
On the corporate tax issue, the nominee hinted at pushing for lowering the tax rate, saying the "global standard" should be considered as it is "criteria where there is international competition."
Last year, Korea lowered its maximum corporate tax rate by one percentage point to 24 percent, but the figure is still higher than major global economies, such as the United States and Japan.(Yonhap)