YOON&YANG

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• 2025-present Yoon & Yang LLC
• 2025-present Policy Advisor, Ministry of Foreign Affairs
• 2025-present Member, National Assembly Legislative Support Committee, Office of Legislation, National Assembly Secretariat
• 2025-present Member, Forestry Cooperative Mutual Finance Depositor Protection Fund Management Committee, National Forestry Cooperative Federation
• 2025-present Member, Financial Risk Management Committee, Korea Expressway Corporation
• 2025-present Visiting Professor, Korean Unification Studies
• 2025-present Policy Advisory, Korean Veterinary Medical Association
• 2025-present Adjunct Professor, National Assembly Training Institute
• 2023-24 Senior Expert Member, Foreign Affairs & Unification Committee, National Assembly
• 2022-23 Senior Expert Member, Land, Infrastructure & Transport Committee, National Assembly
• 2021-22 Director General of Budget Analysis, National Assembly Budget Office
• 2020 Expert Member, Strategy & Finance Committee, National Assembly
• 2019 Research Member, Institute of Justice
• 2018 Expert Member, Health & Welfare Committee, National Assembly
• 2015-17 Expert Member, Safety & Administration Committee, National Assembly
• 2012-15 Legislative Counselor, Embassy of the Republic of Korea in the United States
• 2010-12 Legislative Research Officer, Strategy & Finance Committee, National Assembly
• 2007-10 Head of Economic & Budget Analysis Team, National Assembly Budget Office
• 2005-07 Overseas Training
• 2003-05 PR Officer, National Assembly Secretariat
• 2002-03 Legislative Research Officer, Finance & Economy Committee, National Assembly
• 1999-01 Legislative Research Officer, Information Committee, National Assembly
• 1996-99 Media Officer, Public Affairs Bureau, National Assembly Secretariat

• 2023 Seoul National University Advanced Construction Management Professional Program
• 2017 Korea National Diplomatic Academy Global Leadership Program
• 2007 Indiana University, M.A. in Public Administration
• 1996 Korea University, B.A. in Public Administration

Key Legislation and Amendment Activities

[Land & Real Estate]

• Amendment of the Real Estate Investment Company Act (2023): improvement of regulations that do not accord with the nature of REITs; improvement of the public offering scheme to increase accessibility for the general public; introduction of investor protection mechanism through strengthening expertise and soundness of REITs and asset management companies
• Establishment of the Special Act on Support for Victims of Jeonse Fraud and Housing Stability (2023): determine jeonse fraud victims through the Jeonse Fraud Victim Support Committee; promote housing stability of victims by applying special measures related to auction & public sale procedures and tax collection
• Amendment of the Act on the Development and Use of Station-Adjacent Areas (2023): streamline procedures in order to shorten license & permit period and expedite project undertakings, and clarify criteria for selection requirements for land expropriation and use
• Amendment of the Special Act on the Maintenance of Vacant Houses and Small-Scale Housing (2023): develop a business transition procedure to facilitate small-scale housing maintenance projects to expand supply of housing in urban areas; broaden scope of exclusions from cash settlements; establish a system for implementing integrated projects with adjacent areas
• Amendment of the Special Act on Private Rental Housing (2023): restrict the qualifications for staying status in Korea as to foreigners who can register as a lease business operator; allow refusal of application of lease business registration or deregistration of a person who failed to pay national or local tax
• Amendment of the Special Act on the Promotion and Support for Urban Regeneration (2023): introduce a public acquisition (expropriation) method whereby a public enterprise directly purchases project sites for housing construction; treat buildings supplied as in-kind compensation as land substitution under the Urban Development Act for deferment of capital gains tax
• Amendment of the Licensed Real Estate Agents Act (2023): establish a provision banning and penalizing the assignment or lending and brokering of certified realtor licenses or brokerage office registration certificates; expand offenses subject to license revocation to include such crimes as fraud, forgery or alteration of private documents, embezzlement, and breach of trust under the Criminal Act

[Healthcare & Food]

• Amendment of the Narcotics Control Act (2018): allow export, import, manufacture, sale, administration, transport, storage, and possession for medical purposes upon approval by the Minister of Drug and Safety for cannabis-based drugs (for treating epilepsy)
• Amendment of the Food Sanitation Act (2018): establish grounds for exemption of food service business operators, in the event that a food service business operator’s non-compliance with requirements occurred due to a minor providing a forged or altered ID or other recognized circumstances
• Establishment of the Act on the Safety and Support for Advanced Regenerative Medicine and Advanced Biological Products (2019): establish a distinct stem for comprehensive safety management and support from the regenerative medicine clinical research phase to the advanced biopharma commercialization phase, separate from the mechanism set forth in the Medical Service Act and Pharmaceutical Affairs Act
• Establishment of the Act on Nurturing Medical Devices Industry and Supporting Innovative Medical Devices (2019): introduce a certification procedure for innovative medical device companies and designate procedure for innovative medical devices, as well as a special provision on review thereof, in order to promote product commercialization
• Establishment of the Act on In Vitro Diagnostic Medical Devices (2019): establish a separate provision related to the handling, management and support necessary for the manufacture and import of in vitro diagnostic medical devices in order to ensure safety, improve quality, and promote industrial development

[Tax]

• Amendment of the Income Tax Act (2020): (establish the financial investment income tax) classify income generated from stocks, bonds and derivatives as financial investment income, and impose tax separate from the comprehensive income, retirement income and capital gains income by taking into accounts its nature and loss likelihood; (taxation on income from virtual assets) classify income generated from transfer or lease of virtual assets as other income, and set the tax amount as 20% of amount which excludes KRW 2.5 million from the income amount; (extension of deduction period of losses carried forward) extend the period from within 10 years to within 15 years from the end of the taxable period; (increase the maximum income tax rate) create a new tax bracket for the comprehensive income tax base exceeding KRW 1 billion and apply tax rate of 45%
• Amendment of Individual Consumption Tax Act (2020): add new types of tobacco products made from parts of the tobacco plant other than leaves as subjects of individual consumption tax, and increase the tax rate (1 ml per nocotine solution) for electronic cigarettes from KRW 370 to KRW 740
• Amendment of the Value-Added Tax Act (2020): increase the threshold for simplified taxation to less than KRW 80 million (previously less than KRW 48 million) in total supply value of the immediately preceding year
• Amendment of the Securities Transaction Tax Act (2020): reduce the securities transaction tax rate from 0.45% to 0.43% effective as of January 1, 2021, and further lower to 0.35% from January 1, 2023
• Amendment of the Corporate Tax Act (2020): allow method of imposing corporate tax on trust assets; expand deduction period for losses carried forward (from 10 years to 15 years); classify capital gains from the transfer of virtual assets by foreign corporations as other domestic source income; set a limit on losses carried forward that is deducted when calculating the deductible limit of donations
• Amendment of the Act on Restriction of Special Cases Concerning Taxation (2020): integrate various facility investment tax credits to create an integrated investment tax credit scheme, and expand the carryforward period of tax credits
• Amendment of the Comprehensive Real Estate Holding Tax Act (2020): non-application of the KRW 600 million deduction when calculating the tax base for corporations; raise the comprehensive real estate holding tax rate; soften tax burden for senior citizens owning a single home per household

[Finance; Economy; Financing]

• Full amendment of the Insurance Business Act (2002): specify the types of insurance covered by the top-three insurance businesses (life insurance, non-life insurance, and third-party insurance); clarify the scope of insurance business; introduce relevant provisions allowing financial institutions to act as insurance agents (implementation of bancassurance)
• Amendment of the Management of the National Funds Act (2002): introduce the government purchase card scheme to enhance transparency of budget execution
• Establishment of the Framework Act on Cooperatives (2012): develop the basic principle on the foundation, establishment and operation of a legal entity to engage in economic activities as a “cooperative” centering on producers and consumers, in the event that the existing eight (8) separate laws (such as the Agricultural Cooperatives Act do not apply or if it is difficult to establish a company pursuant to the Commercial Act
• Child Benefits Act (2018): provide child allowance of KRW 100,000 per month to children under the age of 6, but limited to households whose economic status is less than 90/100 of total households with two or more members
• Abolition of the International Disease Eradication Fund Act (2024): abolish the departure tax and related national fund imposed on those departing from airports

• Order of Service Merit, Red Stripes (2022)