US, South Korea Reaffirm Commitment Toward Denuclearization of Korean Peninsula hngn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hngn.com Daily Mail and Mail on Sunday newspapers.
Following the historic deal reached by the G7 group on a global minimum corporate tax rate,firms in South Korea are focusing on the possible implication for their operations. The G7 has taken significant steps this weekend to end the existing harmful dynamic, making commitments today that provide tremendous momentum towards achieving a robust global minimum tax at a rate of at least 15 percent. The deal was agreed on Saturday in an effort to end the decades-long race to the bottom where countries competitively lower tax rates to attract corporate giants.
Regarding the deal, the Ministry of Economy and Finance said on Monday that South Korea could be affected should the G20 group reaches the same agreement, although the impact would be highly limited.
Dazzling performances and high-tech media art took center stage Sunday at a commencement ceremony to mark the opening of the Partnering for Green Growth and Global Goals 2030, or P4G Seoul Summit.
Under the theme of Inclusive Green Recovery towards Carbon Neutrality the meeting is the second of its kind with the inaugural summit taking place three years ago in Denmark.
President Moon Jae-in, as the host, stressed South Korea s commitment to take preemptive and active climate action and to leave no one behind. South Korea will take responsibility and do all we can as a bridge country between developing and advanced nations. Through this summit, we will do our best as the host country, to create actionable visions and an arena for strengthened cooperation.