Finance Minister Kim Dong-yeon said on Saturday that the government is considering lowering fuel taxes temporarily.
 
The minister made the remarks to reporters during his visit to the Indonesian island of Bali for a gathering of G20 finance ministers and central bank governors.
 
Kim said that discussions are under way among related ministries on reducing taxes on petroleum products.
 
He said that global crude oil prices surpassed 80 dollars per barrel, increasing the burden for small companies and self-owned businesses, and reducing the taxes will help ease the weight and stimulate the economy.
 
The minister said that the temporary tax reduction will come within this year.