On February 24, 2026, President Lee Jae-myung presided over South Korea’s 6th Cabinet meeting, focusing on critical policy reforms. The agenda included discussions on lowering the age for juvenile criminal responsibility, population analysis in declining regions, illegal river and valley facility management, and rare earth supply chain stabilization. Reports from various ministries highlighted ongoing efforts to address public welfare, including special task forces for price management and preparations for the UNESCO World Heritage Committee. The meeting aimed to advance national priorities and improve citizens’ quality of life.
The approved policies directly impact several groups, including concertgoers, housing market participants, and industrial stakeholders. Amendments to the Performance Act and National Sports Promotion Act prohibit all forms of illegal ticket sales and mandate confiscation of profits from scalping. Housing-related changes expand tax exemptions for production workers and broaden monthly rent tax credits for multi-child families. Additionally, temporary waivers for residence requirements are granted to buyers of properties from multi-home owners in overlapping regulated zones, facilitating smoother transactions.
Implementation began immediately following Cabinet approval, with ministries tasked to enforce and monitor the new regulations. The Fair Trade Commission received enhanced authority to issue price adjustment orders, with discussions underway regarding enforcement mechanisms. The Ministry of Trade, Industry, and Energy is coordinating inter-ministerial support for rare earth supply stabilization. President Lee emphasized the need for thorough land price investigations and stricter oversight of agricultural land use, instructing relevant agencies to report back with actionable plans.
Frequently asked questions include: What are the main changes to ticket sales regulation? The new amendments ban all forms of illegal ticket sales and allow authorities to confiscate profits from scalping. How will housing tax benefits change? Tax exemptions for production workers are expanded, and multi-child families now have broader eligibility for monthly rent tax credits. What steps are being taken to stabilize rare earth supply? The Ministry of Trade, Industry, and Energy is leading a coordinated effort among multiple agencies to secure supply chains and mitigate risks.
The Cabinet’s decisions reflect a comprehensive approach to addressing public concerns, from consumer protection in ticket sales to housing affordability and industrial supply chain security. The inclusion of expanded tax benefits and stricter enforcement mechanisms indicates a focus on both economic relief and regulatory integrity. The government’s directive for thorough investigations and inter-agency cooperation is likely to enhance policy effectiveness, though ongoing oversight will be necessary to maintain momentum and achieve desired impacts.