S.Korea ruling party mulls policy shift amid crisis

South Korea's ruling party will block further tax cuts for companies and individuals and instead boost financial support for the poor, a newly appointed party leader said on Monday, as the crisis-hit government strives to boost its popularity.

The conservative Grand National Party (GNP) has signalled a shift toward more populist policies ahead of parliamentary and presidential elections next year, amid sharp declines in support in opinion polls and humiliating by-election defeats last month. (Reuters)