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Earned Income Tax Credit in Korea: An Introductory Guide
Earned Income Tax Credit in Korea: An Introductory Guide
  • Table of Contents
    1. Earned Income Tax Credit Introduction Process
    2. History of the EITC
    3. EITC Program Statistics
    4. Comparison of EITC Payment by Year 
    5. Future Plans 
    References

      

  • SUMMARY

    The Earned Income Tax Credit (EITC) was introduced as a means to aid those working poor who have fallen into the gap in coverage between social insurance and the National Minimum Living Standard Security System and to minimize the financial burden borne by the government. The EITC was  introduced into an environment in which mid- and long-term financial stability were threatened by an aging population and low birthrate and the related reduced potential for growth, as well as a deepening disparity in wealth.