SOUTH KOREA
From Times Staff and Wire Reports
Tax on Imported Whiskey to Be Cut: The government said it will lower the 150% tax on imported whiskey to avoid trade friction with the European Community. The EC had threatened to take the case to the General Agreement on Tariffs and Trade, charging unfair trade practices. Finance Minister Lee Yong-man declined to specify how much the tariff will drop. Seoul has proposed lowering the rate to 120%, but the EC has demanded a more drastic cut.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
