Park Soo-young's "369 Yellow Umbrella Credit Act" initiative... "Enhance tax benefits for small business owners."

People's Power Park Soo-young, a member of the National Assembly's Strategy and Finance Committee, is pushing for a bill to expand the income deduction benefits and business income section of the Yellow Umbrella Mutual Aid Project, which was introduced to protect small businesses and small business owners.

Rep. Park proposed the "369 Yellow Umbrella Credit Act," which aims to raise the subscription rate to 30% and to deduct up to 9 million won in income for businesses with less than 60 million won.

The amendment expands the current standard for business income in consideration of inflation and economic growth, and if the bill is passed, small business owners with business income of 60 million won or less can receive up to 9 million won in income deductions.

Lawmaker Park said that the subscription rate was only 22.3% as of the end of September this year as the system was not improved, and that he would increase the subscription rate and make the social safety net even thicker by strengthening benefits.