The South Korean government has announced new measures to revise the nation's liquor tax system... in an effort to boost private investment in the industry.
This means that taxes on beer and Makgeolli will be based on volume or alcoholic content... instead of price.
Korea's finance chief Hong Nam-ki announced on Wednesday... that the changes will be limited to these two types of alcoholic beverage.
The announcement comes after many beer companies have criticized the current system for the 'unfair' differences in taxes between domestic and foreign brands.
The government plans to include the changes in this year's tax reform proposal... and submit it to the National Assembly in early September.
