Taegyu Kim Proposes Bill for Full Tax Deduction on Infertility Treatment and Premature Infant Medical Expenses

"Creating a Childbirth-Friendly Social Environment"

A bill has been proposed to fully deduct infertility treatment costs and medical expenses for premature infants from tax, thereby alleviating the financial burden of essential childbirth-related medical expenses.

Taegyu Kim, member of the People Power Party

On July 22, Taegyu Kim, member of the People Power Party, sponsored a partial amendment to the Income Tax Act to raise the tax deduction rate for infertility treatment costs and medical expenses for premature infants and children with congenital anomalies to 100%.

Under current law, the tax deduction rate for general medical expenses is 15%, while the rate is set higher at 20% for medical expenses of premature infants and children with congenital anomalies, and 30% for infertility treatment costs. However, as infertility treatment and care for premature infants are major social challenges for couples of childbearing age and entail significant financial burdens, this amendment aims to classify them as essential childbirth-related medical expenses and raise the deduction rate to 100%.

Kim stated, “For couples who desperately want children, infertility treatment and medical costs for premature infants are not a choice but a necessity,” emphasizing, “The government must provide clear and decisive support to ease that burden.” He added, “I will do my utmost to ensure that this amendment passes and becomes a foundation for building a birth-friendly social environment.”

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