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SEOUL, Aug. 6 (Yonhap) -- South Korea will manage its tax policy "actively" in a way that would boost the economy, including creating a "virtuous" cycle in which corporate income can stream into households, the finance minister said Wednesday.
The government will provide a 5 percent to 10 percent tax deduction to companies that raise salaries for their workers, while giving incentives aimed at inducing businesses to make more investment and pay more dividends to investors, Finance Minister Choi Kyung-hwan said at a meeting that discussed the government's tax revisions plan.
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