South Korea's presidential office is putting its "Paycheck Defense Squad" to work, aiming to help salaried workers cut living expenses and keep more of their hard-earned money.
Presidential Chief of Staff Lim Kwang-hyun announced the launch of the task force during a weekly meeting of senior presidential aides Monday, according to a written statement from Deputy Presidential Spokesperson Ahn Gwi-ryeong.
“There’s a rueful saying among office workers that their current accounts are like bus stops — money comes in, only to leave shortly afterward,” Lim said. “But those accounts should be like lakes where money can linger.”
The initiative comes as South Korean workers struggle to keep their paychecks ahead of rising living costs.
Inflation-adjusted employment income per household fell about 2.1 percent in the second quarter from a year earlier, based on government data, while consumer prices rose 2.8 percent in October.
The move also reflects President Lee Jae Myung's emphasis on making economic improvements that can be felt in people's everyday lives, rather than ones that are merely reflected in economic statistics.
The new presidential task force, established at Lim's direction last week, will focus on policies designed to reduce everyday expenses and boost workers' disposable income.
Among the measures being pursued are easing eligibility requirements for basic personal income tax deductions, raising the ceiling on tax credits for monthly rent and expanding the Earned Income Tax Credit program.
Lim also highlighted plans to strengthen the retirement pension system, including a phased requirement beginning in 2028 for employers to hold funds for severance pay with external financial institutions.
The measures are intended to prevent delays in severance payments and potentially improve investment returns.
Lim said the presidential office would work with the National Assembly to secure the swift passage of related legislation.
Lim further pledged to continue developing policies to ease living costs and boost workers' disposable income, stressing that the everyday lives of working people are at the heart of the government's livelihood agenda.
The name "Paycheck Defense Squad" is not entirely new.
The Democratic Party of Korea established a group bearing the same name in December 2024 under Lee's leadership, when the party was in opposition, to develop policies aimed at easing financial burdens on salaried workers.
The initiative also marks a return to familiar ground for Lim. A veteran tax official who rose to deputy commissioner of the National Tax Service before entering the National Assembly in 2024, Lim served as secretary of the Democratic Party's original "Paycheck Defense Squad."
Lee advocated easing the tax burden on salaried workers during his time as opposition leader. In a February 2025 Facebook post titled "Are Salaried Workers Suckers?" he argued that inflation was driving up nominal wages and tax bills without improving workers' purchasing power, while accusing the then-government of cutting taxes for the ultrawealthy and effectively raising them for wage earners.
dagyumji@heraldcorp.com
