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S.Korean president's approval rating rebounds on tax hike plan: weekly poll
Last Updated: 2017-07-28 16:23 | Xinhua
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South Korean President Moon Jae-in's approval rating rebounded on the planned tax hike on the super-rich and the large conglomerates, a weekly poll showed Friday.

According to the Gallup Korea survey, Moon won 77 percent in support scores this week, up 3 percentage points from the previous week.

It was based on the survey of 1,008 voters conducted from Tuesday to Thursday. It had 3.1 percentage points in margin of error with a 95-percent confidence level.

The rebound followed the announcement of the ruling Democratic Party's plan to raise income tax on high-income earners who earn at least 500 million won (446,000 U.S. dollars) per year, and corporate tax on conglomerates that make an operating profit of more than 200 billion won per year.

Demand was increasingly strong for higher corporate and income taxes to finance the expanded welfare policy and social security nets amid the rapidly aging population.

The new cabinet of President Moon was almost formed, and the supplementary budget plan worth about 10 billion U.S. dollars was passed through the parliament, helping boost the new leader's approval scores.

Moon's ruling Democratic Party kept the top post with a support rate of 50 percent, up 4 percentage points from a week ago.

The main opposition Liberty Korea Party gained 10 percent of support, followed by the minor conservative Righteous Party with 8 percent.

The centrist People's Party and the minor progressive Justice Party garnered an identical support rate of 4 percent this week.

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