Park Soo-young calls for withdrawal of tax reform plan

Park Soo-young, a member of the People Power Party and a member of the National Assembly's Strategy and Finance Committee, has called for the total withdrawal of the government's 2026 tax reform plan. During a press conference held with youth organizations on the 19th, Park criticized the administration, labeling it a “regime that has abandoned youth.”

Park argued that the proposed tax changes act as a “tax bomb” that threatens the housing, marriage, childbirth, and asset-building prospects of young people. Specifically, the lawmaker claimed that increasing the tax burden on single-home owners would lead to tax shifting and a decrease in rental properties, ultimately making young people the primary victims of rising costs.

Representatives from youth organizations joined the criticism, targeting the reduction or termination of tax credits related to marriage and childbirth. They expressed concerns that shifting from tax credits to cash-based support removes labor incentives and that changes to the Individual Savings Account (ISA) and National Pension management could jeopardize the assets of the younger generation.