Han Mu-kyung Proposes Bill for Tax Benefits to Companies Employing Gyeongdannyeo

Han Mu-kyung, first-term lawmaker of the United Future Party, presiding over a meeting in the office. / Photo by Yoon Dong-ju doso7@

[Asia Economy Reporter Kim Hyemin] On the 13th, Han Mookyung, a member of the Future United Party, announced that she has proposed the "Career Interrupted Women Employment Activation Act," which aims to expand tax benefits for companies that employ women with career interruptions.

The proposed amendment to the "Restriction of Special Taxation Act" includes extending the period of tax benefits, reducing the period classified as career interruption from 3 years to 1 year, and allowing tax benefits even if the women did not work in the same industry.

According to Representative Han, the current Restriction of Special Taxation Act grants tax benefits only to companies that employ women who have retired after working at the company or in the same industry, and whose retirement period is between 3 and 15 years. She stated, "According to Statistics Korea, one in three Korean women experiences career interruption, and the average time required for reemployment is 7.8 years, but smooth employment of career-interrupted women is not being achieved."

Accordingly, the amendment includes ▲ extending the tax benefits for companies employing career-interrupted women, which were set to expire on December 31, 2020, until December 31, 2023, for three more years ▲ expanding the career interruption period from 3?15 years to 1?15 years ▲ granting tax benefits for employing career-interrupted women who did not work at the company or in the same industry.

Representative Han said, "With the prolonged economic recession and employment shocks caused by the spread of COVID-19, reemployment for career-interrupted women has become even more difficult," adding, "If the amendment passes, the relaxation of tax benefit requirements is expected to promote more active employment of career-interrupted women by companies."

This content was produced with the assistance of AI translation services.