Menu Content
Go Top

Economy

State Subsidy for Low Wage Earners to Jump to Near 5 Tln Won Next Year

Written: 2018-09-02 14:00:35Updated: 2018-09-02 14:46:22

State Subsidy for Low Wage Earners to Jump to Near 5 Tln Won Next Year

Photo : KBS News

The government will increase its support for low income working people by three-point-six times to nearly five trillion won next year.

According to the government's tax spending plans for 2019 submitted to the National Assembly, earned income tax credit, a state subsidy for working people with low to moderate income, will be increased from one-point-34 trillion won this year to four-point-nine trillion won next year.

The sum exceeds the originally planned three-point-eight trillion won that the government planned to give to around three-point-three million households.

A Finance Ministry official said that the increase is attributed to changes in the payment methods of the subsidy program.

Editor's Pick

Close

This website uses cookies and other technology to enhance quality of service. Continuous usage of the website will be considered as giving consent to the application of such technology and the policy of KBS. For further details >