ROK lawmakers eye tax cuts at new session

SEOUL: Tax cuts and labor reform topped the agenda as the Republic of Korea (ROK) started a new session of parliament yesterday, just ahead of an expected cabinet shake-up to strengthen the president's push for deeper economic reforms.

President Lee Myung-bak, a former CEO who pledged business-friendly reforms to help the country better compete with regional rivals Japan and China, has seen many of his proposals stalled by bickering in parliament.

Expectations for this session were low with enthusiasm for tax cuts tempered by worries within Lee's ruling, conservative Grand National Party they may add to yawning deficits from earlier government spending to help the export-driven economy get through the global economic slowdown.