Finance Minister Kim Dong-yeon said on Tuesday the government will announce its conclusion on possible tax hikes next week, noting that discussion on the issue has recently gained momentum within the government.
 
Kim made the remark during a joint media briefing following a Cabinet meeting when answering a reporter’s question about whether the government will change its stance on not considering nominal tax increases.
 
Kim said reforming the tax system, including corporate tax and income tax, is under discussion among the related government agencies, adding the result of the discussion will be announced on Wednesday of next week.
 
Kim said the government is reviewing raising taxes on high-income earners and high-asset holders based on considerations of various factors, including justice and fairness in taxation, expanding tax bases and securing tax revenues.