More than six out of 10 South Koreans believe that President Park Geun-hye cannot implement the welfare programs she promised during her election campaign without raising taxes, a survey showed Monday.
The telephone survey released by the Economic Reform Research, an independent economic institute, found that 65.6 percent of 800 respondents said that President Park Geun-hye could not implement her welfare programs without raising taxes.
The survey taken on March 2 has a margin of error of 3.5 percentage points, according to the institute.
Park has also vowed to regularize the so-called underground economy to establish “tax justice,” noting the shadow economy is equivalent to 24 percent of the country’s nominal gross domestic product.
The shadow economy refers to economic activities such as gambling and prostitution, which are not calculated in a country’s official GDP data and leaves the government unable to impose taxes.
Experts say that the government needs about 135 trillion won ($124.3 billion) during Park’s five-year term to enforce diverse welfare benefits, including free child care and subsides for college tuition, among other things. (Yonhap News)
