Financial authorities stress future-oriented investment on strong tax gains

Financial authorities stress future-oriented investment on strong tax gains By Kang Yoon-seung SEOUL, June 10 (Yonhap) -- South Korea's financial authorities on Wednesday stressed the need to pursue future-oriented investment based on an expected increase in tax revenue brought on by the robust economy. Finance Minister Koo Yun-cheol discussed the agenda during a meeting with Bank of Korea Gov. Shin Hyun-song, Financial Services Commission Chairman Lee Eog-weon and Budget Minister Park Hong-keun amid efforts to bolster interagency cooperation. According to the Ministry of Finance and Economy, the participants noted the government's tax earning is expected to rise going forward on the back of sounid economic conditions, adding the gains should be utilized for investment to prepare for the future and enhance growth potential. They also said the financial sector needs to play a proactive role in addressing economic disparity and inflation. The participants added recent volatility in the financial market may place a heavier burden on vulnerable groups, agreeing on the need to maintain close cooperation to stabilize people's livelihoods and manage risks. colin@yna.co.kr (END) - Jung Kyung-ho, Choi Soo-young part ways after 14 years of dating - (News Focus) N. Korea, China reaffirm ties, silent on nuclear issues - Thousands rally for 3rd day demanding new election over ballot shortages - Seoul shares open 1.38 pct lower on woes over inflation, tech slump - Zombie thriller 'Colony' hits 4 mln admissions - (News Focus) N. Korea, China reaffirm ties, silent on nuclear issues - (ROUNDUP) Ruling party wins landslide in local elections despite losing Seoul to incumbent mayor - School drama 'Teach You a Lesson' aims to add reality, depth to original webtoon - Thousands rally for 3rd day demanding new election over ballot shortages - Jung Kyung-ho, Choi Soo-young part ways after 14 years of dating - Jung Kyung-ho, Choi Soo-young part ways after 14 years of dating - (2nd LD) (News Focus) Summit shows China more focused on countering U.S. influence than curbing N.K. nukes: experts - (News Focus) N. Korea, China reaffirm ties, silent on nuclear issues - (3rd LD) N. Korea, China vow new era of ties in Kim-Xi summit: KCNA - Seoul reaffirms goal of denuclearizing Korean Peninsula following Kim-Xi summit