A report shows the Korean government will be spending quite a bit more next year on tax credits in order to expand tax refunds to low-income households.
A government report submitted to the National Assembly on Sunday... shows the amount is estimated to have nearly quadrupled from this year to around 3-point-7-billion U.S. dollars.
This follows the government's reform measures to the Earned Income Tax Credit scheme last month that lowered the threshold for recipients... so that more than 3-point-3-million households can receive support... of up to 27-hundred dollars from the current maximum of around 22-hundred dollars.