The Korea Economic Association said, "We need to deal with the tax-related bills first."

Ahead of the Lunar New Year holiday, the economic community suggested that the ruling and opposition parties should first deal with tax-related bills directly related to the economy and people's livelihoods.

The Korea Business Association presented eight bills pending in the National Assembly, including the Value Added Tax Act, the Restriction of Special Taxation Act, and the amendment of the Customs Act, as the "8th line of tax reform tasks."

First of all, he urged the government to quickly legislate the Value Added Tax Act and the Restriction of Special Taxation Act to reduce the burden on self-employed people.

The amendment to the VAT Act includes a plan to expand the tax credit rate, focusing on retail and restaurant businesses that have lower operating profits compared to sales.

The amendment to the Restriction of Special Taxation Act expands the income deduction rate for credit card traditional market use and extends the sunset deadline for income deduction.

At the same time, he warned that legislation to boost investment in semiconductors should not miss the golden time to boost global competitiveness of industries and companies.

It also urged the swift handling of legislation that would extend the period of temporary investment tax credits for small and medium-sized companies and the period of exemption from tariffs on aircraft parts.

The Korea Economic Association said that at least a bill that the ruling and opposition parties have formed a consensus on so that the people and businesses can carry out normal economic activities should be processed as soon as possible before the Lunar New Year holiday.