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S. Korea to keep 30% tax cut on car purchases until end of 2021 Updated: 2021-06-22 15:13:24 KST

South Korea's finance ministry on Tuesday decided to extend a temporary 30 percent tax cut on car purchases for another six months.
That keeps the individual consumption tax on passenger vehicles at 3.5 percent, instead of the previous 5 percent, until the end of the year.
The maximum benefit from the tax cut is limited to roughly 900 U.S. dollars.
The measure, which was introduced last July, has been extended two times,.. in an effort to boost domestic consumption.
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