Two lawmakers from the main opposition Democratic United Party are proposing measures to boost support for the troubled print newspaper industry.

Rep. Yun Kwan-seok announced Thursday that he will propose a revision to the Income Tax Act to making newspaper subscription fees of up to 200,000 won ($177) each year tax exempt.

According to Yun’s plans, subscription fees for national and provincial dailies, economic and weekly publications will be subject to tax exemption.

Yun said that the revision will be proposed in the coming week, and that he will hold forums to discuss additional revisions to support local newspapers and other traditional media.

“The newspaper industry is essential for securing diversity of opinion and for satisfying the public’s right to know,” Yun said.

Rep. Jun Byung-hun also proposed a revision to the National Finance Act on Thursday calling for the government to financially support printing and delivery of papers and set up a state fund to help the ailing industry.

(cheesuk@heraldcorp.com)