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Korean president launches sweeping economic reforms
Seoul moves to outlaw false name transactions in a bid to tax underground wealth estimated at 33 billion dollars. By October 11 million accounts must reveal true identities or face a 60 percent penalty. The reform aims to modernize finance and boost competition while triggering short term pain.
MENTIONED IN THIS ARTICLE
Seoul
South Korea
Kim Young Sam
Kim
Oh Jung Nam
Economic Planning Board
Kun