![A powerful New Year is rising from Jumunjin Beach in Gangneung City. We look forward to the year 2021 when we forget all the difficult moments and fight. [강릉 = 김호영 기자]](https://i0.wp.com/file.mk.co.kr/meet/neds/2020/12/image_readtop_2020_1327524_16091445124487480.jpg?w=560&ssl=1)
A powerful New Year is rising from Jumunjin Beach in Gangneung City. We look forward to the year 2021 when we forget all the difficult moments and fight. [강릉 = 김호영 기자]Large and small real estate measures, which have been poured out countless times this year, will be implemented in earnest from next year. The comprehensive real estate tax rate will increase to a maximum of 6%. Starting in June next year, the heavy tax rate of the transfer tax imposed when multi-homed people sell their homes will also increase significantly. The free high school education for the second and third graders of high school will be expanded from next year to all grades, including first graders. Housing benefits are also paid separately to young people living apart from their parents with households with a median income of 45% or less. We have summarized policy and system changes that may be helpful to know by item.
Taxation and finance
Increase in the median transfer tax rate when selling houses for multi-homed people
▶Expanded application of simple taxation of value-added tax = The simplified taxation currently applied to individual business owners with annual sales (consideration cost) of 48 million won or less will be expanded to individual businesses with less than 80 million won. However, the duty of issuing tax invoices continues even if the general taxable person who is currently obligated to issue tax invoices is converted to simplified taxation.
▶ Increased tax rate = The tax rate is raised up to 6%. When owning 2 houses or less, the final tax rate is applied by 0.6~3.0% for each tax base section, and up to 1.2~6.0% for 3 houses or more and 2 houses in the area subject to adjustment.
▶ Increase in the median transfer income tax rate = From June 2020, when multi-homed people sell their homes, the median transfer tax rate will increase from’basic tax rate + 10-20% points’ to’basic tax rate + 20-30% points’. The tax rate is also strengthened from 40% to a maximum of 70% when selling houses held for less than two years and moving-in rights for members.
▶Change of deduction rate and deduction method = The tax deduction rate for elderly people who are homeowners (real demand) increases by 10% points for each section. The limit of the combined deduction rate combined with the long-term holding deduction is also increased by 10 percentage points to a maximum of 80%.
▶ Enforcement of the jeon/month tax reporting system = The jeon/month tax reporting system included in the 3rd Act on Leases is scheduled to be implemented from June after system preparation.
▶ Securities transaction tax rate cut = In order to cut transaction costs when transferring shares, the securities transaction tax rate will be lowered to 0.08% for KOSPI, 0.23% for KOSDAQ, 0.1% for KONEX, and 0.43% for others.
▶ Increase in the maximum income tax rate = The section exceeding the total income tax standard of 1 billion won will be newly established, and the tax rate will be adjusted (42% → 45%) for sections exceeding 1 billion won.
Education, childcare, family
Free education for all high school students
▶ Fully implemented free high school education = The free high school education currently being implemented for the 2nd and 3rd graders of high school will be fully expanded to target the 1st, 2nd and 3rd graders next year.
▶Expansion of child care service support = Families using part-time services have received government support for up to 720 hours per year, but from next year they will receive government support for up to 840 hours per year. The government support rate will also increase from 80% to 85% for households using a full-day infant (median income of 75% or less), and from 55% to 60% for households using a part-time child (less than 120% median income).
▶Automatic recharge system for integrated cultural use rights = KRW 100,000 per person per year by increasing the support for the integrated cultural use rights (Culture Nuri Card) given by the government to basic living recipients and the next higher class. The’automatic recharge’ system is introduced and implemented so that the right to use the integrated culture can be recharged without a separate application.
Health, welfare, employment
Expansion of basic pension payments to below 70% of income
▶Expanding basic pension payments = The amount of basic pension benefits paid for the stability of seniors’ lives was paid up to 300,000 won per month only for the lower 40% of their income this year, but starting next year, up to 300,000 won per month for the lower 70% of their income.
▶ Improving the livelihood benefit system, such as easing the standards for those who are obligated to support livelihood benefits = Even when the household of the recipient of livelihood benefits has an elderly person or a single parent, it is possible to receive livelihood benefits because the standards for those who are obligated to support are not applied. Compared to the previous year, the living wage for next year will increase by about 3% for four people.
▶Separate payment of housing benefits for young people = Housing benefits are separately paid to young people living away from their parents in the receiving household for the purpose of attending school and finding a job.
▶Minimum Wage Increase = From January 1 of next year, the minimum wage will increase to 8720 won per hour. In terms of daily wages, the monthly amount is KRW 69760 for 8 hours, and KRW 18,22,480 for 40 hours per week.
Defense·Military Service·Unification
Even if I get a tattoo, I’m active… Change the criteria for military service
▶Increase in salary for soldiers = The salary for soldiers has increased by 12.5% compared to 2020. The sergeant will pay 60,500 won per month and increase it to 50% of the 2017 minimum wage by 2022.
▶Change of body grade criteria for military service judgment = From February, when the military service judgment test starts next year, we will return the criteria for active service judgment, such as the body mass index (BMI), which were temporarily strengthened in 2015, to the level before 2014 in order to solve the problem of congestion. For tattoos, the level 4 standard was deleted and all of them were judged as active duty (grades 1 to 3).
▶Added Artists to the Acting Awards = Added excellent people in the field of popular culture and arts to the Acting Acting Awards. Currently, college students, graduate students, and excellent athletes in the field of physical education were able to postpone the conscription or convocation, while those with excellence in the popular culture and arts field, such as entertainers, were excluded from acting. The revised content will take effect from June 2021.
Administration, safety, order
Significant increase to 100 types of mobile electronic certificates
▶Right to terminate the police investigation = From the new year, the prosecutor’s right to command the investigation will be abolished, and the police will also be given the right to terminate the investigation. The prosecutor cannot direct the investigation to the police, and the police have their own right to terminate the investigation. If the prosecutor unfairly refuses to request a warrant, the police may raise an objection through the’Writing Deliberation Committee’.
▶ Immediate arrest at the scene of domestic violence = If police officers dispatched to the scene of domestic violence begin a criminal investigation, the’Arrest of the current criminal under the Criminal Procedure Act’ will become possible from next year. In addition, in the event of a violation of temporary measures such as prohibition of access, criminal punishment is possible instead of fines.
▶Expansion of mobile electronic certificates = Mobile electronic certificates that allow application, issuance, and submission of certificates using smartphones will be greatly expanded from 13 types such as resident registration, etc. to 100 types from January 2021 such as income certificate and disability certificate.
▶Compulsory insurance for disaster liability insurance for rural and fishing village guesthouse facilities = A mandatory disaster compensation insurance for rural and fishing village guesthouse facilities as well. Indemnification of up to 150 million won per person and up to 1 billion won per accident per property for physical or property damage caused by an accident.
Life, environment, weather
Check the concentration of ultrafine dust in all underground stations
▶ Rural return to farming experience program = A program that allows you to experience rural and agricultural life for up to 6 months in advance will also be implemented next year. Programs tailored to each region are provided, such as farming practice, field trips, and village development. If you participate in the program for more than 15 days in a month, you can receive 300,000 won per month for training.
▶ Disclosing the concentration of ultra-fine dust in subway stations = From next April, the concentration of ultra-fine dust (PM2.5) at all underground stations in the country will be measured and disclosed in real time. The public can check the concentration of ultrafine dust in underground history in real time on the comprehensive indoor air quality management information network.
▶Improving the environmental impact assessment procedure for collecting residents’ opinions=In the case of environmental impact assessments, the results of collecting residents’ opinions and the timing of disclosure of whether or not they are reflected are clarified from before the project plan is finalized to before the request for consultations on the environmental impact assessment to enhance transparency.
▶Small and medium-sized enterprises chemical substance registration fee exemption = Medium-sized enterprises and small and medium-sized enterprises that register a chemical substance that has been granted a registration grace period until 2024 or later by 2022 will be exempted from the registration fee.
Industry·Small Business·Energy
Up to 3 times reward when stealing Chinese ideas
▶ 3 times compensation for the stealing of ideas from SMEs = Companies that deliberately steal ideas from SMEs and venture companies must compensate up to 3 times the amount of losses.
▶Supply 5G-class Wi-Fi unlicensed frequency = To prepare for the rapidly increasing traffic due to Corona 19, Wi-Fi frequencies used in the existing 2.4GHz and 5㎓ bands will be expanded to 6GHz bands, allowing them to be utilized as new technologies such as next-generation Wi-Fi (6E).
▶Expanding electrical safety checks in apartment houses and traditional markets = The safety checks of electrical facilities, which were previously conducted only for power reception facilities such as transformers and switchboards, will be expanded to distribution boxes, circuit breakers, indoor wiring, outlets, and switches in individual furniture and stores. Traditional markets are held once a year, and apartment houses are held once every three years.
▶ Reinforcement of BB gun safety standards = To prevent accidents with BB guns, it is necessary to attach a firing impediment (immunition limiting device) to a BB gun made with higher kinetic energy than domestic standards. Manufacturers and importers must indicate whether or not a bullet speed limiter is attached to the BB gun, where it is attached, and a guide to prohibit modification.
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