Regulatory/market assessment

摘要

1. President Yoon Suk-yeol of the conservative People Power Party, who took office in May 2022, has adopted a business-friendly economic agenda in line with traditional conservative economic policies. In June 2022 he unveiled a new five-year economic plan, which focuses on reducing state intervention in the market, lowering the corporate tax (from a top rate of 25 to 22) and undertaking structural reform in several sectors. 2. In July 2022 the administration of Yoon Suk-yeol unveiled a new energy plan, which aims to lower the country's dependence on imported fossil fuels to under 70 by 2030, down from 81.1 in 2021. The shortfall is to be met in part by increasing the share of nuclear energy from 27.1 in 2021 to 30 by 2030.