People's Power Presidential candidate Yoon Seok-yeol has pledged not to impose income tax on severance pay of up to 50 million won.
Candidate Yoon revealed the purpose of introducing the pledge, saying, "It is harsh to tax even retirement pay, the seed money for a new life plan."
Then, he explained that if he received 50 million won in severance pay while leaving his job for 10 years under the current system, he would have to pay about 920,000 won in retirement income tax. About 95% claimed they would benefit.
(Photo = Yonhap News)