It was confirmed that Chung Ho-young, a candidate for Minister of Health and Welfare, received a 'small business' tax deduction while earning hundreds of millions of won a year as a professor at Kyungpook National University and a rental business.
According to personnel hearings submitted to the National Assembly, candidate Chung inherited a three-story building in Dongseong-ro, Daegu from her father in 1994, and currently earns 23 million won in rental income from the building a month.
As a result of analyzing the tax payment data from 2017 to 2021 submitted by Candidate Chung by SBS and Democratic Party Assemblyman Choi Jong-yun's office, candidate Chung used his building rental business status to join the 'Yellow Umbrella Deduction' for small business owners each year. They accumulated 2 million won, which is the maximum payment limit, and received deductions of up to 990,000 won per year.
According to Article 115 of the Small and Medium Business Cooperative Act, the 'yellow umbrella deduction' is a large-scale money-raising system operated for business recovery and livelihood stabilization in preparation for the closure, death, or aging of small business owners.
But last year alone, candidate Chung, who earned more than 500 million won a year in the combined salary and rent of a professor at Kyungpook National University, has been receiving tax benefits through this system.
In response, Candidate Jeong explained that he signed up after working-level employees recommended to join when he served as the chairman of Saemaul Geumgo from 2014 to 2017. .
It is said that he signed up for the performance of the Geumgo during his tenure as chairman of Saemaul Geumgo, who was criticized for 'unauthorized concurrent positions' by the Ministry of Education's audit.
More details will be provided in <SBS 8 News> shortly.