[Voice] How much tax can Park squeeze out of the underground economy?
Jan 28, 2013
President-elect Park Geun-hye has made no secret of her wish to oversee big increases in public spending, mostly to fund her vision of a more expansive welfare system. Considering South Korea’s comparatively low level of social spending and the prevailing political wind for increased welfare, Park’s welfare drive by itself could be seen as unremarkable. More notable, though, is her claim of being able to raise the more than 100 trillion won necessary without introducing new direct taxes or raisi