South Korean President Vows to End Marriage Penalties in Government Policy

South Korean President Lee Jae-myung has vowed to remove any government policies that create a "marriage penalty," discouraging young people from tying the knot. He emphasized that "our youth should never hesitate to marry because of national policies." Lee made these remarks on August 8th, sharing a document titled "22 Marriage Penalties Found Through the Voices of Youth" on X, formerly Twitter.

President Lee stated that he had instructed a thorough investigation into potential disadvantages associated with marriage. He explained that various opinions were gathered through youth forums, real estate discussions, and reviews by relevant ministries. This process identified 22 issues, particularly concerning housing and asset accumulation, including loans, housing subscriptions, and tax benefits.

The "22 Marriage Penalties" document, seemingly prepared by the presidential office, includes specific requests such as easing income requirements for the "Didimdol" home purchase loan, the "Beotimtok" jeonse (lump-sum deposit) loan, and the "Bogeumjari" loan. It also calls for expanding eligibility for first-time homebuyers and increasing the income threshold for dual-income households applying for the "Newborn Special Loan." Additionally, it suggests relaxing subscription requirements for newlyweds seeking special housing allocations.

"I intend to carefully examine whether improvements are needed and if the proposed solutions will be fair and practically beneficial to everyone," President Lee stated. He expressed a desire to work with the public to create "small and large changes that can be truly felt." He concluded by assuring that the government would "do its part" to ensure marriage becomes "a hopeful new beginning, not a burden."