Yong Hye-in: 190 million won in party dues was not for tax savings, but ordinary political activity

Yong Hye-in’s confirmation hearing team pushed back against a report linking her political donations to tax savings, saying the payments represented ordinary political activity rather than a financial strategy.

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The candidate’s payment of party dues, or political-fund donations, to her affiliated party was not for the purpose of saving taxes.

The report said the ministerial nominee had donated more than 190 million won in political funds to the Basic Income Party and other organizations over the past five years, while receiving about 36 million won in income-tax deductions.

In a statement issued on the afternoon of the 5th, the team said Yong had regularly paid part of her earned income as ordinary party dues. It described the payments as a responsibility she accepted as the only lawmaker affiliated with her party.

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As the only lawmaker from her affiliated party, the candidate has regularly paid part of her earned income in ordinary party dues with a sense of responsibility.

The team also argued that tax savings could not have been the main purpose. If Yong had been seeking an economic benefit, it said, the financially rational choice would have been to reduce the amount of party dues substantially rather than rely on tax deductions. It called it inappropriate and factually wrong to describe lawful party payments and deductions provided under the Income Tax Act as a tax-saving trick. The team said it would continue to disclose materials related to Yong’s parliamentary activities and tax payments and respond fully to questions raised.

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It is inappropriate and also contrary to the facts to define lawful party payments and tax deductions provided under the Income Tax Act as a tax-saving trick.