Finance minister Choo Kyung-ho has opposed the idea of revising the tax code to secure tax revenue amid concerns of its shortage, citing current economic difficulties.

Responding to a lawmaker's question during a parliamentary inquiry on the finance ministry on Tuesday, Choo said it is not right to increase the tax burden at a time when the economy is difficult and that propping up public livelihood and boosting investment should come first.

He said the tax revenue situation can be examined by August or no later than early September when more detailed data becomes available. He vowed to execute spending as earlier determined for this year with no setbacks by securing additional funds within the institutional framework.

Regarding the expiration of temporary tax exemptions, the minister said decisions will be made on a case by case basis. 

As for revising the tax code, Choo said a related bill will be submitted to parliament when the government proposes its 2024 budget so the two can be reviewed together.