Mr. Choi (31), who married a co-worker in May last year, has not yet registered his marriage. This is because if you become a legal couple, dual income is unfavorable for your own home. Mr. Choi said, “It is more advantageous to find a house if each person is a single householder메이저사이트.” The number of marriages that are not caught in the statistics will not be small,” he said.
“You can apply alone, but you can’t be a couple.”The representative disadvantages of marriage are subscriptions and loans. Choi and his wife each applied for a pre-subscription for the site of Subangsa Temple in Dongjak-gu, Seoul, which was called the ‘Han River View Lotto’. As it comes out at a price that is 400 to 500 million won cheaper than the surrounding market price, it is a place that recorded the highest competition rate (283 to 1) for pre-subscription. I didn’t win, but I didn’t even get a chance to apply if I had registered my marriage.
This is because the special supply for newlyweds can only be applied for if they earn 130% (8.46 million won) or less of the average monthly income per household of urban workers (140% for dual income, 9.11 million won). The general subscription, which can also be applied for by single-person households, is based on 100% of average monthly income (6.51 million won). If two people who earn about 5 million won per month become a legal couple, they fall short of the subscription requirements themselves.
As such, there are cases where dual-income couples are at a relative disadvantage, and the word ‘marriage penalty’ is emerging among newlyweds. In online communities, you can easily find posts such as “If you register your marriage, you are an idiot.” It is also common for couples to register their marriage only after the birth of a child. This is because additional points are given according to the number of children in the special provision for newlyweds, so they are at a disadvantage until they have children.
Single-person households based on loan income = Newlyweds?Singles have an advantage over married couples in terms of loans. The stepping stone loan, operated by the Ministry of Land, Infrastructure and Transport and the Housing and Urban Guarantee Corporation ( HUG ), is a product that allows you to borrow money at a low interest rate when purchasing a home. Newlyweds are eligible for support if their annual income is less than 70 million won. However, even single-person households over the age of 30 have the same income requirement of 70 million won or less per year for their first home purchase. Even looking at the preferential interest rate conditions of the special shelters recently introduced by the government to support housing demanders in a high interest rate situation, there is no big difference, with annual income of 60 million won or less for young single-person households and 70 million won or less for newlyweds.
The charter is also unfavorable to newlyweds. In the case of the youth support jeonse fund loan, the jeonse deposit is loaned at a low interest rate of up to 200 million won to the head of the household under the age of 34. However, as such criticism grew, the government decided to raise the income standard for newlyweds for stepping stone and support loans by 15 million won in the second half of the economic policy announced on the 4th. Nevertheless, it is still low compared to the average annual income of dual-income households.
2 times for people, 1.7 times for recognized income
Even in income support, married couples are alienated. The EITC , which provides work incentives to households with low incomes, is designed to favor single-person households. Single-person households must earn less than 22 million won and two-income households must earn less than 38 million won to receive the labor incentive. When you get married, the number of household members doubles by simple calculation, but the recognized income is only 1.7 times. According to a report published last year by the National Assembly Legislation Research Service, as of 2019, the rate of receiving work incentives for double-income households was 6.5%, only a quarter of single-income households (27%).
Among newlyweds, dual-income households are now more common than single-income households. According to the National Statistical Office, 46.3% of all married couples in 2021 were dual-income households, but only for those in their 30s, the age at which marriage usually begins, the proportion of double-income households reached 53.3%. In 2011, the share of double-income households in their 30s was 41.4%. It has increased by more than 10 percentage points in 10 years. Two people with their own economic power are combined, but various income standards do not apply the standard of ‘1 + 1 = 2’.
Standard income that is difficult to meet for dual-income householdsAverage household income is steadily rising. This is because wages have risen together and the proportion of dual-income workers has increased. However, the condition for supporting income for the stepping stone loan (home purchase) is less than 60 million won for married couples (70 million won or less for newlyweds) from the time of introduction in 2014 until now. The average monthly income of double-income households, which was 6.41 million won per month in the first quarter of 2019, rose to 7.91 million won in the same quarter of this year. The annual salary is about 95 million won.
It is pointed out that support for couples is insufficient compared to single households, which acts as an obstacle to marriage. This is because unlike in the West, where births without marriage are common, in Korea, it is common for Koreans to get married in order to plan and give birth to children. This is the background of criticism that the policy is blocking marriage, which should be encouraged to resolve the low birth rate.
Seulgi Choi , a professor at KDI Graduate School of Public Policy and Management, said, “In a situation where dual-income couples have become commonplace, it is questionable whether it is right to view a dual-income couple as having actual economic leeway.” We need to expand,” he said. He added, “It is right to fix the system that causes people who live together and want to marry to postpone marriage due to housing or tax issues.”