Blue House launches ‘Paycheck Defense’ task force in earnest ... seeks to expand rent deductions and transit fare refunds

[Financial News] The Blue House is launching the ‘Paycheck Defense Task Force (TF)’ in earnest to ease workers’ living expenses and increase their disposable income.
In a written briefing on the 9th, Blue House Deputy Spokesperson Ahn Gwi-ryeong said that Chief of Staff to the President Im Gwang-hyeon would chair a Senior Presidential Aides Meeting that afternoon and had instructed the Office of the President of the Republic of Korea last week to establish a Paycheck Defense TF.
Im said that workers have taken to saying, ‘A paycheck account is just a stopover,’ and that he would move quickly to pursue tangible policies so paychecks could stay in bank accounts longer. He also noted that President Lee Jae Myung had established a ‘Paycheck Defense’ team directly under him when he was party leader and had developed policies for workers.
The government is pursuing plans to ease eligibility requirements for the basic deduction on comprehensive income and raise the cap on the monthly rent tax credit. It also plans to expand the earned income tax credit (EITC). Next year’s budget proposal includes expanded transportation fare refunds through the ‘Everyone Card,’ full tuition support for children attending regional national universities, a higher government subsidy rate for child care services, and the establishment of an ‘Our Children’s Independence Fund.’
Im said that making external funding of retirement pensions mandatory in phases starting in 2028 could prevent unpaid severance pay and boost returns. He said he would consult with the National Assembly to ensure the relevant legislation is passed swiftly.
The government will also expand the disclosure of price information by wedding halls and studio, dress and makeup businesses to reduce wedding costs. Im pointed out that a Fair Trade Commission survey last week found that about 47% of these businesses had not disclosed key price information. The Blue House plans to expand the designation of wedding halls as ‘Good Price Establishments’ and make more public wedding venues available.
[email protected] Seong Seok-woo Reporter