SEOUL -- South Korea is set to cut taxes on oil products this month, in its latest bid to prop up a sputtering economy by putting more money in the pockets of consumers.
Finance Minister Kim Dong-yeon said that his department will implement lower levies on gasoline, diesel and liquid petroleum gas to help small business owners and low-income families. While Kim did not specify the size of any cuts, analysts say they will be at least 10%.
