[Changes in the New Year] Minimum Wage 10,030 KRW per Hour · 1 Million KRW Tax Credit for Marriage

Starting next year, the hourly minimum wage will be raised to 10,030 won. The number of households receiving support for childcare services will increase from 110,000 to 120,000, and the eligibility criteria will be expanded to households earning up to 200% of the median income. Married couples who register their marriage will be eligible for a tax credit of up to 1 million won, with 500,000 won per person in the year of registration.

Sergeant Monthly Salary Raised to 1.5 Million Won

On the 31st, the Ministry of Economy and Finance announced that starting next year, a marriage tax credit system will be established, providing married couples with a tax credit of 500,000 won per person, up to a maximum of 1 million won, in the year they register their marriage.

The child tax credit amount will be increased for children aged 8 to 20 (or grandchildren). The previous amounts of 150,000 won for the first child, 200,000 won for the second, and 300,000 won per child thereafter will be expanded to 250,000 won for the first child, 300,000 won for the second, and 400,000 won per child thereafter.

Subscribers to the Youth Introduction Account who have been enrolled for more than two years and have paid a cumulative amount of over 8 million won will receive an additional 5 to 10 points on their credit score. Also, subscribers enrolled for more than two years can withdraw part of their payments before maturity, up to 40% of the cumulative principal paid.

The monthly salary for soldiers will increase from 1.25 million won to 1.5 million won for sergeants, and from 640,000 won to 750,000 won for privates. The government support for the Soldiers' Tomorrow Preparation Savings, which helps soldiers save a lump sum upon discharge, will increase from a maximum of 400,000 won per month to 550,000 won.

Law to Eradicate Habitual Wage Arrears to be Enforced in October

From January 1 next year, the minimum wage will be raised to 10,030 won per hour. Converted to a daily wage based on 8 hours, it amounts to 80,240 won, and the monthly wage is 2,096,270 won (based on 40 hours per week, 209 hours per month, including 8 hours of paid weekly holiday).

Parental leave pay will be increased from the current maximum of 1.5 million won per month to up to 2.5 million won depending on the duration of the leave. The system that paid 25% of parental leave pay six months after returning to work will be abolished, and the full amount will be paid during the parental leave period.

If each parent uses parental leave for three months or more, or if the parent is a single parent or has a child with a severe disability, the parental leave period will be extended from one year to one and a half years. Parental leave can also be taken in up to four separate periods. The spouse's paternity leave will be extended from 10 days to 20 days, and the age limit for reduced working hours during childcare will be expanded from 8 years old (second grade elementary) to 12 years old (sixth grade elementary). Workers who used a combined total of one year of parental leave and reduced working hours before September 30, 2019, will also benefit from the expanded system.

The high school credit system, which allows students to select subjects according to their career path and aptitude and earn credits upon meeting the credit completion criteria, will be fully implemented for first-year high school students in the 2025 academic year.

The support target for Neulbom School, which provides comprehensive educational programs linking various educational resources from schools and local communities to support student growth and development, will be expanded from current first graders to second graders in elementary school.

The Regional Innovation-Centered University Support System (RISE) will be fully implemented nationwide. The Ministry of Education will delegate over 2 trillion won in university financial support authority to local governments, which will establish cooperative partnerships with universities to promote mutual growth of regions and universities.

Expansion of Government Support for Childcare Services

The number of households receiving support for childcare services will increase from 110,000 to 120,000, and the eligibility criteria will be expanded to households earning up to 200% of the median income. An infant care allowance (1,500 won per hour) will also be introduced.

The government will introduce a childcare cost advance payment system in the second half of the year, providing single-parent families who are not receiving child support with 200,000 won per child under 18 years old in advance, and then recovering the amount from the non-custodial parent. If the non-custodial parent refuses to repay, the government will collect the child support through national tax enforcement methods.

The Digital Medical Device Act, enacted to manage digital medical products applying advanced digital technologies such as artificial intelligence under a unified legal framework in a consistent and organic manner, will be enforced on January 24 next year.

The support for essential fertility testing fees will be expanded to all men and women of reproductive age (20 to 49 years old), regardless of marital status or number of children, and the number of tests covered will increase from one to up to three times.