The People Power Party announces comprehensive pledges on 'marriage and parenting'… Responding to wedding inflation through the expansion of public wedding venues

The People Power Party has announced comprehensive pledges related to marriage and parenting. Key contents include the expansion of public wedding venues to address the rising marriage costs, the introduction of standard contracts for 'studio, dress, and makeup (SDM)', and the easing of housing loan requirements for newlyweds.

On the 23rd, Kwon Seong-dong, the floor leader of the People Power Party, emphasized, "The term wedding inflation (wedding + inflation) has emerged due to the skyrocketing costs of weddings," stating, "I will ensure that those who are at least willing to marry and give birth will not feel compelled to give up in the face of realistic difficulties."

According to the pledges, the People Power Party plans to support local governments in utilizing public facilities such as parks, auditoriums, art galleries, and museums as wedding venues. Additionally, they plan to establish an online platform for wedding venue applications run by the government. To prevent prospective newlyweds from falling victim to misleading advertisements and excessive additional cost demands from wedding companies, they will introduce a standard contract for transactions involving SDM services.

The People Power Party is also proposing to enhance consumer protection measures, including price display regulations, liability insurance, and an advance payment guarantee system for wedding service providers.

Furthermore, they aim to comprehensively address the issue of information asymmetry related to wedding services and establish a basis for damage compensation by promoting the enactment of the 'Wedding Services Act.'

The easing of housing loan requirements stands out as a means to reduce the burden of securing housing. The joint annual income ceiling for the Dditimdor housing purchase loan will be raised from the current 85 million KRW to 120 million KRW, while the Beotimmok Jeonse loan limit will increase from 50 million KRW to 100 million KRW.

To support child-rearing, the 'Our Child First Step Account', where the government provides one-to-one matching support for parental savings, will also be introduced. Parents can save up to 200,000 KRW per month for ages 0-1, and up to 100,000 KRW per month for ages 2-17.

Kwon emphasized, "If saved until the age of 18, it will accumulate approximately 50 million KRW in assets," adding, "This will provide practical support for children's education, housing, and social entry."

Additionally, tax deductions for elementary school extracurricular academy fees, mandatory evaluations of postpartum care centers, and enhanced support for couples facing infertility are included in the pledges. Kwon stated, "No matter who becomes a presidential candidate, I will ensure that these pledges will be adopted as election commitments."

Image source: Reference photos for understanding the article / gettyimagesbank, Kwon Seong-dong, floor leader of the People Power Party / News1