9 Housing Market Legal Promulgations and 1 Presidential Decree Passed by Cabinet Meeting... September 7 Designated as National 'Blue Sky Day' Annual Commemoration
[Asia Economy Reporter Ryu Jeong-min] The Blue House announced that the '4 Major Real Estate Policy Packages' covering taxation, finance, supply, and tenant protection have been completed.
Yoon Jae-kwan, Deputy Spokesperson of the Blue House, said on the 11th, "Today’s Cabinet meeting finalized all legislative measures, including nine housing market-related law promulgations and one presidential decree."
According to the Blue House, tax law amendments aimed at stabilizing the real estate market, including the 'Partial Amendment to the Corporate Tax Act,' 'Partial Amendment to the Income Tax Act,' 'Partial Amendment to the Comprehensive Real Estate Tax Act,' 'Partial Amendment to the Local Tax Act,' and 'Partial Amendment to the Restriction of Special Local Taxation Act,' passed the Cabinet meeting.
Deputy Spokesperson Yoon stated, "With the completion of the 4 major real estate policy packages covering taxation, finance, supply, and tenant protection, along with the 'Plan to Expand Housing Supply in the Metropolitan Area,' the government will steadfastly pursue policies to stabilize the housing market and protect actual homebuyers."
Additionally, the partial amendment to the Government Organization Act passed at today’s Cabinet meeting introduces a multiple vice-minister system to strengthen the expertise of the Ministry of Health and Welfare’s health affairs and upgrades the Korea Centers for Disease Control and Prevention to the Korea Disease Control and Prevention Agency to enhance infectious disease management systems.
Deputy Spokesperson Yoon said, "Once the law is promulgated by publication in the official gazette this week, it is expected that the multiple vice-minister system for the Ministry of Health and Welfare will be introduced and the Korea Disease Control and Prevention Agency will be launched around mid-September."
The partial amendment to the National Sports Promotion Act passed today includes strengthening the functions and authority of the Sports Ethics Center to prevent incidents like the late athlete Choi Sook-hyun’s case, thereby enhancing the human rights protection system for athletes.
The partial amendment to the Infectious Disease Prevention and Control Act includes provisions to impose treatment costs on foreigners entering the country infected abroad. Additionally, the partial amendments to the National Assembly Act and the Confirmation Hearing Act add the Chief of the High-ranking Officials’ Crime Investigation Agency to the list of subjects requiring confirmation hearings.
Meanwhile, Deputy Spokesperson Yoon explained, "The partial amendment to the Regulations on Various Commemorative Days designates September 7th of every year as ‘Blue Sky Day’ as a national commemorative day," adding, "‘Blue Sky Day’ is the first case of a UN commemorative day designated at the 74th United Nations General Assembly in December 2019, proposed by South Korea."
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