This year, according to the finance ministry, taxes in South Korea are expected to surpass 20 percent of the country's GDP for the first time.<br />The Moon administration is spending more on social programs to boost incomes, which it hopes will result in more consumption and economic growth.<br />The finance ministry says these taxes on the wealthy and big business represent an increase in tax revenues of 5-and-a-half percent from last year.<br />A ministry official said the boom in tax revenues is expected to continue into next year as well.<br />The Moon administration will host a public debate on August 16th about the tax burden, something seen as directly related to the people's living conditions and their property rights. <br />
