South Korean ministers are prescribing a dose...
South Korean ministers are prescribing a dose of puritanism, including higher taxes on entertainment and curbs on foreign fun travel in hopes of curing an outbreak of rampant consumerism.
Seoul newspapers said Friday that the “anti-decadence” program, due to take effect in January, would include a 10% tax on night spots and heavier taxes on real estate profits.
Economic planners want to stop investment from being diverted to the service industry and other non-productive fields from manufacturing.
After years of austere living, South Koreans have discovered the joys of consumer spending since the country began running a huge trade surplus in 1986.
Other kill-joy measures mooted included fewer public holidays, a ban on overseas tours for golfing, fishing, shopping and honeymoons, and strict limits on the number of bouquets and wreaths allowed at weddings and funerals.
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