South Korea's new tax on corporate cash piles is already getting mixed reviews from analysts, who say it attacks an important problem but may not produce the desired results.

Korea on Wednesday announced details of the new tax, which is part of a $40 billion stimulus package. Starting next year, the largest 1% of Korean companies by capitalization will be liable for an additional tax of 10% on net profits if they fail to pay between 60% and 80% of the gains back out as investments, employee raises or shareholder dividends.

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