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The leader of the People Power Party, Jang Dong-hyeok, stated on the 4th, “We plan to actively advocate for reducing the voting age to 16.” Furthermore, he introduced a comprehensive five-point policy package, which includes ‘Three Meals a Day for 1,000 Won,’ ‘tax exemptions for companies moving to regional areas,’ and ‘Hungarian-style strategies to address low birth rates.’

Rep. Jang mentioned during a speech at the National Assembly negotiation group leaders’ meeting, “We should start discussions in the political reform special committee to lower the voting age starting with this local election,” indicating the effort to bring down the voting age to 16. South Korea adjusted the voting age from 19 to 18 via an amendment to the election law in 2019. Currently, the majority of countries have a national election voting age of 18.

In response to worries about the ‘politicization of classrooms’ following the reduction of the voting age, Rep. Jang stated, “We will create a advisory group including conservative and progressive teacher associations and parents.” He highlighted the need to legally establish guidelines that ensure political neutrality in education and strictly ban biased political instruction.

Rep. Jang introduced five key policy initiatives as a reaction to calls for increasing the People Power Party’s reach.

First, in the labor field, he said, “We will build a nation where hard work is recognized” via initiatives such as ‘safeguarding financial stability.’ Rep. Jang further mentioned, “We will advocate for amending the Income Tax Act to increase the standard deduction for earned income tax, ensuring that workers are not overwhelmed by high taxes.”

Second, he stated, “We will create a nation where young people’s aspirations are realized.” To achieve this, he committed to greatly enhancing the ‘youth housing voucher’ by covering a monthly rent of 300,000 South Korean won. Furthermore, he suggested expanding the existing ‘1,000 Won Breakfast’ initiative to a ‘1,000 Won Three Meals a Day’ program, offering breakfast, lunch, and dinner through national funding. For those not pursuing higher education, he promised to distribute ’20 convenience store meal vouchers each month’ in collaboration with retail stores.

Third, he proposed enhancing AI independence and a significant shift in the energy mix. Rep. Jang said, “We will establish institutional support measures that go beyond those of rival nations to promote small modular reactors (SMRs), which are being rapidly developed worldwide.”

Fourth, he introduced population revolution initiatives, such as ultra-low-interest loans of up to 200 million South Korean won for newlywed couples without housing. Representative Jang stated, “The reasons young people steer clear of marriage and having children are the significant obstacle posed by high housing costs and the concern about poverty following the birth of children.”

To tackle this issue, he suggested a Korean version of a ‘Family Dream Loan,’ inspired by Hungary’s strategies to combat low birth rates. Representative Jang stated, “We will offer housing purchase and jeonse loans of up to 200 million South Korean won at an ultra-low interest rate of 1% for newlywed couples without homes within three years. We will eliminate all interest after the birth of a first child, forgive 30% of the principal loan for a second child, and completely waive the principal loan for a third child.” He also recommended implementing a ‘Korean-style family tax rate system’ to significantly lower tax obligations for families with multiple children.

Fifth, he said, “We will turn regions into a paradise for businesses.” Firstly, companies moving to the regions will be exempt from corporate taxes. Business owners who move and keep their jobs for more than 10 years will get full exemptions from inheritance taxes on family businesses. Representative Jang mentioned, “We will change regions from ‘places to leave’ into ‘places to stay.’” He further added, “If someone buys a house worth up to 600 million Korean won in a region, they can run a weekend farm without tax concerns under the ‘regional vitality second home’ policy.”

He also suggested establishing a ‘Korea Renovation Task Force’ at the National Assembly level to tackle issues like population decrease and regional disappearance. Representative Jang stated, “Without radical population and regional strategies, there’s no way to avoid the population crisis or regional collapse. Let’s work together across political divisions and bring in experts from every field to discover a sustainable future for Korea.”