Gov't holds first task force meeting to ease living costs for wage earners

South Korea on Friday held the inaugural meeting of a new task force aimed at developing policies to reduce living costs and boost real disposable income for wage earners.

First Vice Finance Minister Kwon Dae-young chaired the meeting with officials from relevant ministries to discuss detailed implementation plans following the presidential office's announcement of the initiative this week.

The task force comprises four working groups covering existing support measures, taxation, fiscal policy and finance, respectively, to identify practical ways to achieve those goals.

The new team will focus particularly on helping workers cope with labor market changes driven by structural changes in industry, along with the growing financial burden of caring for children and elderly parents.

Other key goals will include helping workers build assets, improve job security and manage their health.

"The measures in the 2026 tax revision bill and next year's budget proposal are directly linked to wage earners' household finances next year," Kwon said.

"While respecting deliberations at the National Assembly, we will coordinate closely with the ruling and opposition parties and, once the measures are passed, swiftly implement them so workers can feel the benefits."