2023 Year-End Tax Settlement and Tax Saving... Interest in Hometown Love Donation System 'Wigib'

- 100,000 Won Donation Fully Tax-Deductible in Year-End Tax Settlement
- Choose a 30,000 Won Thank-You Gift to Revitalize the Local Economy

Currently, donations are included in the year-end tax deduction items, marking an era where donating has become a form of financial strategy.

There are various types of donations, such as designated donations through foundations and political contributions, and many citizens practice donation as a tax-saving strategy near the year-end tax settlement period to get tax refunds. Especially this year, the ‘Hometown Love Donation System’ was implemented for the first time, and famous tax accountant YouTubers are introducing hidden tax-saving schemes.

The Hometown Love Donation System allows donors to choose their hometown where they were born and raised, a region with close ties, or a region they personally want to support, and make donations. Donors receive tax credits (tax reductions) and thank-you gifts accordingly. Since local governments purchase the thank-you gifts chosen by donors, it creates a virtuous cycle that also contributes to revitalizing the local economy.

Participation in the Hometown Love Donation System is possible through platforms. Social enterprise Gonggammanse Co., Ltd. operates Wegive, and the Ministry of the Interior and Safety operates Hometown Love e-um for fundraising.

Wegive, which has a simple system that allows completion from registration to donation within just 5 minutes, is easily accessible even on buses or subways during commutes. Moreover, thank-you gifts are typically received within 1 to 2 days after donation, earning high praise from office workers and the younger generation accustomed to fast delivery.

Wegive is currently conducting designated donations together with ‘Gwangju Dong-gu’ and ‘Jeonnam Yeongam.’ Gwangju Dong-gu is running the ‘Gwangju Theater 100-Year Project,’ the longest-running single-screen theater in Korea, and the ‘Support Project for E.T Baseball Team for Youth with Developmental Disabilities,’ the only one of its kind in the country. Comedian Yoon Seong-ho and idol group DreamNote have been appointed as ambassadors and are working with Wegive to promote the Gwangju Dong-gu Hometown Love Donation System through support videos and content production.

Jeonnam Yeongam is conducting the ‘Newborn Survival Guarantee: Yeongam Mom Project’ to purchase medical equipment for a public postpartum care center. Along with poet Na Tae-ju, singer Ha Chun-hwa, and Kangjin, who are ambassadors for Yeongam County, activities are underway to promote the Yeongam County Hometown Love Donation System. Currently, Wegive is producing various content with Yeongam County Folk Ssireum Team coach Yoon Jeong-su to promote the thank-you gifts of the Hometown Love Donation System.

In December, a Hanwoo (Korean beef) thank-you gift event is underway, offering an additional 100g for every 300g purchased, and when selecting 10kg of Yeongam County rice, an extra 1kg is also being given.

A Wegive representative said, “The Hometown Love Donation System not only helps reduce regional disparities and promotes balanced development connecting cities and regions but also encourages people to support and develop affection for their regions,” adding, “We hope many people actively participate in the Hometown Love Donation System through Wegive, experiencing meaningful donations and receiving thank-you gifts as a warm experience.”

This content was produced with the assistance of AI translation services.