President Lee announces reforms to fix 'marriage penalties' and review ISA plans

President Lee Jae-myung has announced a major initiative to eliminate so-called 'marriage penalties' that create institutional disadvantages for young people. The plan prioritizes 22 specific tasks related to housing and asset formation, including easing income requirements for various loans (such as Didimdol and Beotimmok), expanding eligibility for newborn special loans, and improving subscription requirements for newlywed special supplies.

Separately, the government has ordered a full reassessment of the Individual Savings Account (ISA) reform plan and a bill designed to prevent stock price manipulation. The ISA overhaul faced backlash from investors who argued that limiting the account's maturity and removing the ability to carry over unused contribution limits would disrupt the benefits of compound interest. The decision to review these policies comes amid concerns from the ruling party regarding public backlash and the potential impact on the capital markets.