S. Korea Extends Fuel Tax Cuts for Two Months Until End-August

South Korea will extend fuel tax cuts for another two months until end-August, the finance ministry said in a statement Monday.

• Measures were set to terminate at the end of June
• The size of the tax cuts has been reduced
  • Tax cut on gasoline falls to 20% from 25%, cuts on diesel and LPG fall to 30% from 37%
• Decision taken after considering global oil prices, consumer price trends and impact on national finances
• READ: South Korea Considers Extending Fuel Tax Cuts Beyond June

To contact the reporter on this story:
Heesu Lee in Seoul at hlee425@bloomberg.net

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