Reasons for Proposal
Reasons for Proposal and Major Provisions
The current Act entrusts the Enforcement Decree of the Act with the age standards for youth start-up SMEs and regular youth employees while providing special tax exemptions to support youth employment and start-ups but stipulates differently that representatives of young start-up SMEs shall be between 15 and 34 years of age, and regular youth employees shall be between 15 and 29 years of age.
The different range of youth prescribed for each special case may cause confusion among citizens, and there is a discussion that the upper age limit for youth needs to be adjusted more broadly to 39 years or younger, considering the trend that the entry into society of young people is also delayed compared to before.
Therefore, this amendment aims to unify the ranges of youth, which are differently stipulated in the Enforcement Decree of the Act, from 19 to 39 years old, and to move the provisions to the Act (Article 6 (1) and 29-5 (1)).