Implementation of Union Accounting Disclosure System... Minister Lee Jeong-sik Urges "Active Participation"

On the 5th, Lee Jeong-sik, Minister of Employment and Labor, stated, "I ask labor unions, including the general federation, to actively participate in order to achieve the grand goal of establishing an autonomous labor movement and a future-oriented labor-management relationship through the disclosure of labor union accounts."

On the same day, Minister Lee made these remarks during a briefing on the implementation of the labor union account disclosure system at the Government Seoul Office.

He said, "I am here to report to the public that the labor union account disclosure system, which allows unions to autonomously disclose their operational accounts to enhance trust among members and the public and to strengthen democracy and autonomy, was launched on the 1st. Labor unions or subordinate organizations wishing to disclose can access this system and register their 2022 financial results by November 30."

When a labor union discloses its accounts, a tax credit benefit of 15% will be granted on union dues paid after October 1 of this year. An official from the Ministry of Employment and Labor explained, "This union dues tax credit system supports labor union activities with public funds, so it is intended to ensure the public nature and transparency of the labor unions and their higher-level organizations that use the union dues." Union members can check whether their affiliated labor union and its higher-level organization have disclosed accounts through the disclosure system and apply for the union dues tax credit during the year-end tax settlement in January next year.

The government plans to continue supporting labor unions to avoid difficulties in account disclosure through online and offline accounting disclosure education targeted at labor unions, customized accounting consulting by experts, and the advancement of the disclosure system.

Lee Jeong-sik, Minister of Employment and Labor, is holding a briefing on the implementation of the "Labor Union Accounting Disclosure System," which allows labor unions to autonomously register their settlement results, at the Government Seoul Office in Jongno-gu, Seoul, on the 5th. Photo by Jo Yong-jun jun21@

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