Yoon: "Tax Benefits and Tax Audit Deferrals Considered for SMEs Balancing Work and Family"

Policy Fund Support for Work-Family Balance Companies
Tax Audit Deferral Considered for Excellent SMEs
"Hard-Won Birth Rate Rebound... Need to Join Forces More"

President Yoon Suk-yeol is speaking at the 4th Emergency Population Countermeasures Meeting held on the 25th at the Korea Federation of SMEs in Yeouido, Yeongdeungpo-gu, Seoul, under the theme of 'Sharing Achievements of Excellent Companies for Work-Family Balance.'
[Image source=Yonhap News]

President Yoon Suk-yeol said on the 25th, "Childbirth and childcare must be happy experiences in order to overcome the current population crisis," adding, "The role of companies is more important than anything else." He also stated that measures such as tax benefits and deferral of national tax audits for small and medium-sized enterprises (SMEs) supporting work-family balance are being considered.

President Yoon made these remarks while presiding over the 4th Population Emergency Countermeasure Meeting at the Korea Federation of SMEs in Yeouido, Seoul, in the afternoon. The meeting, held under the theme "Sharing Achievements of Companies Excelling in Work-Family Balance," was organized to discuss public-private cooperation measures to overcome the population crisis.

After expressing gratitude for the efforts of companies supporting work-family balance, President Yoon said, "Support for work-family balance by companies is not merely an expense but an investment that enhances corporate competitiveness and leads to greater growth," adding, "The government will also do its best to support this."

To this end, President Yoon explained that incentives tangible to companies, such as policy fund support and preferential treatment in bidding projects, will be prepared. In particular, tax benefits for excellent SMEs leading the way in work-family balance are being considered, along with measures such as deferral of national tax audits.

President Yoon said, "The number of births in the second quarter increased compared to the same period last year for the first time in eight years since 2015, and the number of marriages also increased for two consecutive quarters, recording the second-highest growth rate on a quarterly basis," adding, "Since we have barely rekindled the spark of fertility rate rebound, the public and private sectors must join forces to create a definite momentum for reversal."

President Yoon Suk-yeol is greeting attendees on the 25th at the Korea Federation of SMEs in Yeouido, Yeongdeungpo-gu, Seoul, during the 4th Emergency Population Countermeasure Meeting held under the theme of 'Sharing Achievements of Excellent Work-Family Balance Companies.'
[Image source=Yonhap News]

He continued, "Changing the environment and culture of workplaces so that young people can work hard and happily balance childcare is the top priority," emphasizing, "For this, the role of companies is crucial, and changing corporate awareness is necessary to achieve good results."

President Yoon said, "Overcoming the population crisis is a task that requires the whole society to unite and improve awareness and structure," and expressed expectations that the 'Low Birthrate Overcoming Promotion Headquarters,' formed by the economic, financial, academic, broadcasting, and religious sectors, will serve as a focal point to change overall social awareness.

This was the third time President Yoon presided over this meeting, following March last year and June this year. The presidential office stated, "It is the first time since President Park Geun-hye in 2015 that the president personally presides over the meeting more than twice a year." Since declaring a 'Population Emergency' on June 19, President Yoon has been implementing various measures.

About 150 people attended the meeting, including business owners and workers from SMEs, mid-sized companies, and large corporations, as well as representatives from economic and financial organizations and private members of the Low Birthrate and Aging Society Committee.

From the government and the presidential office, Joo Hyung-hwan, Vice Chairman of the Low Birthrate and Aging Society Committee; Choi Sang-mok, Deputy Prime Minister and Minister of Economy and Finance; Kim Moon-soo, Minister of Employment and Labor; Oh Young-joo, Minister of SMEs and Startups; Sung Tae-yoon, Director of Policy Office at the Presidential Secretariat; and Yoo Hye-mi, Chief of Low Birthrate Response at the Presidential Secretariat were present.