CCTV.com - CNTV English - CCTV News


Homepage > News > Biz >

S Korea to reduce tariffs on 67 items in 2011

12-21-2010 21:20 BJT

SEOUL, Dec. 21 (Xinhua) -- South Korea said Tuesday it will reduce tariffs on a total of 67 items in 2011 to tackle inflationary pressure and stabilize low- and mid-income household lives.

According to the Ministry of Strategy and Finance, 24 items, such as strollers and children's clothes, will be newly added to the existing list of goods applied to lower import taxes.

Of the existing list, currently made up of 57 items, 43 items were selected to remain, thus extending the list to a total of 67.

Starting from 2011, tariff rates will also be lowered by at most 40 percentage points, with the lowered tax to be applied at least six months up to one year.

The move comes as the government seeks to stabilize low-income household lives by curbing inflation.

The selected items mostly consist of goods often used by low-income people, such as sugar, tires, soap, flour, gasoline and other oil products, the ministry said.

Editor:Zheng Limin |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program