Kim Yong-beom "Temporary Increase in Donation Tax Credit This Year... Hope Donation Relay Continues"

Kim Yong-beom, the 1st Vice Minister of Strategy and Finance, is speaking at the 1st meeting of the 2021 National Economic Advisory Council held at the National Assembly on the 21st. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Kwon Haeyoung] Kim Yongbeom, First Vice Minister of the Ministry of Economy and Finance, stated on the 30th, "The government is conducting a Lunar New Year donation participation campaign as part of the Lunar New Year livelihood stabilization measures," adding, "We hope this will not be a one-time event but will lead to various donation relay movements to help those struggling due to COVID-19."

On the same day, through social media (SNS), Vice Minister Kim said, "Funds raised through donations will be used to support living expenses, medical expenses, and education costs for low-income groups facing difficulties due to crisis situations."

He explained the donation participation campaign by saying, "Considering the COVID-19 situation, it will be conducted in a non-face-to-face manner," and "It is designed so that anyone can easily participate in donations by using QR codes and various simple payment methods."

Vice Minister Kim also said, "The government has decided to temporarily increase the tax credit rate for donations this year to support the spread of donation culture," adding, "The specific additional credit rate will be announced through the tax law amendment bill around July."

He particularly cited the case of a couple receiving basic livelihood security benefits who donated 1 million won, saying, "Although they do not have enough, their warm heart to help those who are more difficult than themselves is likely the source of the donation," and "The government is conducting the Lunar New Year donation participation campaign with this sentiment in mind."

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