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.<br />This means that taxes on beer and Makgeolli will be based on volume or alcoholic content... instead of price.<br />Korea's finance chief Hong Nam-ki announced on Wednesday... that the changes will be limited to these two types of alcoholic beverage.<br />The announcement comes after many beer companies have criticized the current system for the 'unfair' differences in taxes between domestic and foreign brands.<br />The government plans to include the changes in this year's tax reform proposal... and submit it to the National Assembly in early September.<br />
