South Korea Wants Covid Winners to Share Profits With Losers

Feb. 2, 2021, 10:00 PM

South Korean President Moon Jae-in is calling on the corporate winners of the pandemic to share some of their profits with smaller businesses that have borne the brunt of the economic pain, as he looks to address the uneven nature of the recovery.

The idea has gained traction within the ruling party in recent weeks as the K-shaped nature of the recovery became clearer, with unprecedented public spending still failing to offset losses by mom-and-pop stores hit by social distancing restrictions.

While public support for Moon’s government partly depends on its continued efforts to tackle simmering resentment over inequality in ...

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